‘Expanding ESOPs’ Coalition Aims to Increase Awareness
The new group intends to improve wealth-building opportunities for American workers.
Tag: ESOP
ESOP Appraisal Proposal Expected in Coming Months
EBSA has not, however, set a hard deadline for the much-anticipated proposal.
DOL, IRS Announce Spring Regulatory Agendas
The agendas contain important updates on fiduciary corrections and ESOP valuation.
Will ESOPs Finally Get Regulatory Clarity?
SECURE 2.0 requires DOL to create rules for ESOP valuation.
EBSA Head Says Disclosure, SECURE 2.0, ESG Are Key Priorities
EBSA’s Lisa Gomez identified upcoming regulatory priorities related to SECURE 2.0 and the importance of effective disclosure at a conference...
Employee Stock Ownership Plans To Get a Boost from Omnibus Package
Provisions found in the Work Act and SECURE 2.0 Act, both parts of the spending package, are intended to promote...
Improving Outcomes | Total Retirement
A Share of the Wealth
Each employee gains with an ESOP or a KSOP—how to transform a client’s plan.
Plaintiff’s Severance Agreement Doesn’t Stop ESOP Lawsuit
The defendants’ motion for summary judgment, based on the release of claims and their contention that the plaintiff didn’t suffer an injury, was denied.
Fiduciaries Accused of Shortchanging Participants in ESOP Sale
A Department of Labor lawsuit says the fiduciaries allowed the ESOP's ownership shares to be sold for less than market...
Bellwether IBM Stock Drop ERISA Lawsuit Settlement Published
The case history of IBM v. Jander shows the importance, but also the limitations, of Supreme Court rulings in fiduciary...
Judge Certifies Class in Lawsuit Filed by ESOP Participants
The participants claim they were mislead and intimidated to sell their shares back to the company at a price significantly lower than fair market value.
Wilmington Trust Faces Further ERISA Litigation Tied to ESOP Clients
The firm has previously settled similar challenges related to market price evaluation services provided to employee stock ownership plans.
Government Plaintiffs Clear Dismissal Hurdle in Reliance Trust Lawsuit
The Department of Labor brought the underlying case and has argued successfully in opposition to the defendants’ dismissal motion, which has now been denied.
Court Dimisses Lawsuit Over ESOP Valuation
A federal district court judge explained how the plaintiff actually benefited after the stock shares were purchased, so she suffered no harm.
Court Finds Red Flags Ignored in ESOP Valuation
Fiduciaries were ordered to restore $6,502,500 to the plan for an overpriced purchase.
S Corporation ESOPs Can Give Workers a Retirement Savings Advantage
In such plans, they have more than twice the average retirement balance of other workers.
DOL, Reliance Trust Settle ESOP Pricing Lawsuit
Reliance Trust will pay $4,545,454 back to the plan within 30 days.
Closely Watched Case Regarding Burden of Proof Dismissed And Settled
A significant split among circuit courts on this issue remains unresolved.
Second Decision in Wells Fargo Stock Drop Case Parses ‘Loyalty’ and ‘Prudence’
Given a second chance to argue their case, participants in a Wells Fargo retirement plan have again failed to meet the steep pleading standards set out by the...
Rainbow ESOP Challenge Easily Beats Motions to Dismiss
Plaintiffs in the lawsuit are participants and beneficiaries of the Rainbow Disposal Co., Inc. Employee Stock Ownership Plan, who seek to restore losses to the plan and to...