Employee benefits due diligence during a transaction can protect buyers from unpleasant surprises post-closing and give sellers a negotiating edge by ensuring that their benefits plans have a clean bill of health. It provides confidence to both sides that the benefits part of the deal is taken care ...
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About Wendy Gilligan
Five Ways ESOPs Fit Your Succession Plan
An ESOP can be a powerful succession planning tool for your business. But relatively few advisors in the marketplace know enough about ESOPs to give you the information you need. We'll give you a head start. Here are five ways an ESOP can fit, or even drive, your succession ...
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Retirement Plan Eligibility Mistakes That Can Surface in M&A Transactions
Retirement plan eligibility mistakes are on the IRS list of the top 10 most common retirement plan errors that are brought to its Voluntary Correction Program. According to the IRS, this mistake most often surfaces as a result of a merger or acquisition. In this podcast Wendy Gilligan discusses ...
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No Fooling: New Rules For SBA ESOP Loans Took Effect April 1
The changes that the Main Street Employee Ownership Act made to the Small Business Administration's lending rules for ESOP transactions are now in effect. The revised rule makes an SBA loan potentially more attractive for sellers who want to sell their companies to an ESOP but do not ...
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Doing M&A Due Diligence In Phases Lets You Decide How Much Review Is Enough
The deal lawyers we work with appreciate having ERISA counsel with serious transaction experience on their side. We understand that deal cost and time have to be kept in check. Our phased approach to employee benefits diligence puts you and your client in control of how much review is enough. In ...
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Failure to File a Form 5500: An Expensive Problem To Acquire
In a merger or acquisition, late or never-filed Form 5500s can be an expensive benefits problem to acquire and a sign there may be other issues with the company's benefits plan.
In this podcast, Wendy Gilligan shares some helpful general information for buyers and ...
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SBA-Guaranteed Loans For Employee Stock Ownership Plans: Big News For Small Business
Inside the recently signed $717 billion, Fiscal Year 2019 John McCain National Defense Authorization Act is a small provision that has nothing to do with national defense but a lot to do with a big opportunity for small businesses and lenders.
Originally proposed as the Main Street Employee ...
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Eligible Individual Account Plan: The Other Employee Stock Ownership Plan
Some companies want a way to get stock to the broader base of their workforce (with some extra "oomph" for their senior people), that is deductible and coordinates with their existing shareholder strategies, but that isn't as complex as an ESOP. Yet others see the significant additional tax benefits ...
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ESOP Trustee Indemnification: Three Things To Remember
In this article, we're revisiting three court cases involving ESOP fiduciary indemnification that left some head-scratching over when and how an ESOP company can indemnify its ESOP trustees. This year being the fifth anniversary of the last decision, Harris v. GreatBanc Trust ...
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