In this article, we address the question of whether a successor can become personally liable for a breach of fiduciary duty under ERISA (and the federal common law of trusts), if the breach occurred prior to the fiduciary’s appointment as trustee. We ...
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ESOP Distributions Policies: How Can You Modify Or Amend Them?
It is a fairly common practice for ESOP plan documents to contain references to ESOP distributions "policies" that are separate from the plan document itself and that are administered, or modified or amended, by plan fiduciaries (committees, trustees ...
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ESOPs: Common Misperceptions
There are some common misconceptions about ESOPs that should be addressed and dispelled. Unfortunately, many less than fully informed business owners and advisers hold them as truths. Many business owners mistakenly think:
An ESOP is a ...
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Pension Actuaries: Do You Need One For Your Plan?
The role of the pension actuary on the retirement plan team …
Actuaries are well trained in determining pension liabilities and costs and can often quote the pension sections of the Internal Revenue Code verbatim. But do you need one? Do you have ...
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Succession Planning And The ESOP
Evaluating whether an ESOP is appropriate when it’s time to sell the business…
In ESOPs: The Three Types, we explain the three basic ways an Employee Stock Ownership Plan (ESOP) can be used to effectively motivate employees to increase ...
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Understanding ESOPs: How They Benefit Sellers, The Company, And Employees
Understanding ESOPs can be daunting at first glance. This article looks at how ESOPs can be a cash-flow-efficient and tax-advantaged option that merits careful consideration when compared to selling the company or merging with a third party.
At ...
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