The Fundamental Framework of Employee Stock Ownership Plan: Key Features Uncovered! Recording

An Employee Stock Ownership Plan (ESOP) is a tax-qualified defined-contribution retirement benefit plan that is designed to invest primarily in stock of the sponsoring employer.  ESOPs provide a valuable retirement benefit for employees, incentives for employee productivity and tax advantages f…

The Fundamental Framework of Employee Stock Ownership Plan: Key Features Uncovered!

Thursday, April 27, 2017

3:00 pm – 5:00 pm (EST)

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Fox Rothschild LLP

Morrison Cohen LLP

OneAmerica

Fox Rothschild LLP

Fox Rothschild LLP is a national law firm with 750 attorneys practicing in 22 offices coast to coast. We’ve been serving clients for more than a century, and we’ve been climbing the ranks of the nation’s largest firms for many years, according to both The Am Law 100 and The National Law Journal. Our lawyers provide a full range of legal services to public and private companies — from startups and family-run businesses to multinational corporations. We also represent charitable, medical and educational institutions both in the United States and in more than 50 countries worldwide. Our lawyers partner with clients and work hand-in-hand with them to keep pace with their business objectives and anticipate the challenges ahead. Our entrepreneurial approach — as a firm that works in the trenches with clients, helping them to achieve their goals — is a characteristic that differentiates us. When you choose Fox, you gain an adviser as dedicated to your success as you are.

Website: http://www.foxrothschild.com/

Morrison Cohen LLP

Morrison Cohen LLP has grown to become one of New York’s leading full-service mid-size commercial law firms. For the third consecutive year, the firm has been named to The National Law Journal’s Midsize Hot List. Morrison Cohen offers deep experience and senior-level attorney attention at rational billing rates. The firm principally serves the middle market, providing a full array of highly sophisticated corporate, capital markets, business litigation, real estate, bankruptcy and reorganization, compensation, benefits and employment, and other commercial, transactional, and individual client legal services.

Website: http://www.morrisoncohen.com/

OneAmerica

OneAmerica® includes a family of financial companies. As a mutual organization, OneAmerica has no shareholders. The company is accountable only to its clients or policyholders. OneAmerica provides life insurance, retirement services, asset-based long-term care and employee benefits. 

Website: http://www.oneamerica.com/

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Harvey M. Katz
Harvey M. Katz
Partner
Fox Rothschild LLP

Harvey serves as co-chair of Fox Rothschild’s nationwide Employee Benefits & Compensation Department and chair of the Employee Stock Ownership Plans Practice. He represents clients in all aspects of pension, executive compensation and employee benefits law. Harvey handles a broad array of sophisticated employee benefits issues for public and private companies, including the representation of employers and trustees in connection with Employee Stock Ownership Plans and compliance, fiduciary and transactional matters and use of ESOPs in business acquisitions

Paul L. Porretta
Paul L. Porretta
Partner
Morrison Cohen LLP

Paul is a Partner in Morrison Cohen’s Employment, Compensation & Benefits Department. His practice focuses on a wide range of services related to 401(k) plans, pension plans, multiemployer plans, Employee Stock Ownership Plans (“ESOPs”), and ERISA issues. In addition, Paul’s experience covers executive compensation, executive employment arrangements, health and welfare plans, and HIPAA compliance.

Jackie J. Salmon, A.S.A., M.A.A.A.
Jackie J. Salmon, A.S.A., M.A.A.A.
Field Vice President, Consulting Services
OneAmerica

Jackie J. Salmon, A.S.A., M.A.A.A., is Field Vice President of Consulting Services with OneAmerica.  Ms. Salmon has consulted on both defined benefit and defined contribution plans since 1981 (ESOPs since 1991). Her firm does full service retirement plan administration and actuarial work, including ESOP recordkeeping and repurchase liability studies.  Ms. Salmon received both her B.S. and M.S. degrees from Indiana University.  She is an Associate of the Society of Actuaries, a Member of the American Academy of Actuaries, serves on the Administration Advisory Committee of The ESOP Association, serves on the Advisory Committee of the Indiana Chapter of The ESOP Association, and is a member of the NCEO.  

Key Topics

An Employee Stock Ownership Plan (ESOP) is a tax-qualified defined-contribution retirement benefit plan that is designed to invest primarily in stock of the sponsoring employer.  ESOPs provide a valuable retirement benefit for employees, incentives for employee productivity and tax advantages for shareholders.

ESOPs are subject to specific requirements under the Internal Revenue Code and ERISA.  In this LIVE Webcast, a panel of distinguished professionals brought together by The Knowledge Group will help the audience understand important issues in establishing and operating an ESOP, as well as navigating compliance with IRS and Department of Labor rules governing ESOPs.

Key Topics

  • Types of ESOP Companies: Public, Private, Banks (special issues)
    • Focus on ESOPs sponsored by privately-held companies
  • ESOP Company Characteristics
    • Ownership culture among employees
    • Business succession for company ownership
  • ESOP Company Advantages
    • Tax advantages for selling shareholders in creating ESOP
    • Liquidity and diversification
  • Is Your Company a Good ESOP Candidate?
    • Employee census factors
    • Impact company’s on existing retirement and pension plan
    • Current ownership structure
    • Company value
  • Establishing an ESOP
    • ESOP plan design
    • Selecting an ESOP trustee
    • Selecting an independent appraiser for valuing company stock
  • Structuring an ESOP Transaction
    • Leveraged ESOPs
    • ESOP stock purchase
  • ESOP Plan Administration
    • Qualification requirements; IRS determination
    • Reporting and disclosure requirements
    • Fiduciary responsibility
  • ESOP Account Distribution Issues
    • Restriction on distributions if loan is outstanding
    • Diversification distributions
    • Company repurchase obligations on distributions
  • Special Considerations for Subchapter S Corporations
  • Trends and Developments
    • Department of Labor Examinations
    • IRS audits
    • “Stock drop” cases

Who Should Attend
  • Employee Benefits Attorneys
  • Benefits Managers
  • Compensation and Benefits Consultants
  • ESOP Company Employees
  • ESOP Company Employers
  • Retirement Plan Financial Professionals
  • Private and Public Companies

Credit Info
Course Level: Intermediate
Prerequisite: Experience in employee benefits law
Method Of Presentation: Group-Internet Based
Credits: 2.0
Course Code: 146350
NASBA Field of Study: Finance – Technical
NY Category of CLE Credit: Areas of Professional Practice

Attendees who need CE credits, please be informed that there is a minimal fee. Contact our CE Coordinator for details at [email protected]

An Employee Stock Ownership Plan (ESOP) is a tax-qualified defined-contribution retirement benefit plan that is designed to invest primarily in stock of the sponsoring employer.  ESOPs provide a valuable retirement benefit for employees, incentives for employee productivity and tax advantages for shareholders.

ESOPs are subject to specific requirements under the Internal Revenue Code and ERISA.  In this LIVE Webcast, a panel of distinguished professionals brought together by The Knowledge Group will help the audience understand important issues in establishing and operating an ESOP, as well as navigating compliance with IRS and Department of Labor rules governing ESOPs.

Key Topics

  • Types of ESOP Companies: Public, Private, Banks (special issues)
    • Focus on ESOPs sponsored by privately-held companies
  • ESOP Company Characteristics
    • Ownership culture among employees
    • Business succession for company ownership
  • ESOP Company Advantages
    • Tax advantages for selling shareholders in creating ESOP
    • Liquidity and diversification
  • Is Your Company a Good ESOP Candidate?
    • Employee census factors
    • Impact company’s on existing retirement and pension plan
    • Current ownership structure
    • Company value
  • Establishing an ESOP
    • ESOP plan design
    • Selecting an ESOP trustee
    • Selecting an independent appraiser for valuing company stock
  • Structuring an ESOP Transaction
    • Leveraged ESOPs
    • ESOP stock purchase
  • ESOP Plan Administration
    • Qualification requirements; IRS determination
    • Reporting and disclosure requirements
    • Fiduciary responsibility
  • ESOP Account Distribution Issues
    • Restriction on distributions if loan is outstanding
    • Diversification distributions
    • Company repurchase obligations on distributions
  • Special Considerations for Subchapter S Corporations
  • Trends and Developments
    • Department of Labor Examinations
    • IRS audits
    • “Stock drop” cases

SEGMENT 1:
Jackie J. Salmon, A.S.A., M.A.A.A.Field Vice President of Consulting Services
OneAmerica

  • Types of ESOP Companies: Public, Private, Banks (special issues)
    • Focus on ESOPs sponsored by privately-held companies
  • ESOP Company Characteristics
    • Ownership culture among employees
    • Business succession for company ownership
  • ESOP Company Advantages
    • Tax advantages for selling shareholders in creating ESOP
    • Liquidity and diversification

SEGMENT 2:
Harvey M. KatzPartner
Fox Rothschild LLP

AND

Paul L. PorrettaPartner
Morrison Cohen LLP

  • Is Your Company a Good ESOP Candidate? (Harvey)
    • Employee census factors
    • Impact on company’s existing retirement and pension plan
    • Current ownership structure
    • Company value
  • Establishing an ESOP (Paul)
    • ESOP plan design
    • Selecting an ESOP trustee
    • Selecting an independent appraiser for valuing company stock
  • Structuring an ESOP Transaction (Harvey)
    • Leveraged ESOPs
    • ESOP stock purchase
  • ESOP Plan Administration (Paul)
    • Qualification requirements; IRS determination
    • Reporting and disclosure requirements
    • Fiduciary responsibility
  • ESOP Account Distribution Issues (Paul)
    • Restriction on distributions if loan is outstanding
    • Diversification distributions
    • Company repurchase obligations on distributions
  • Special Considerations for Subchapter S Corporations (Harvey)

SEGMENT 3:
Panel Discussion

  • Trends and Developments
    • Department of Labor Examinations
    • IRS audits
    • “Stock drop” cases

This is a must attend event for anyone interested in understanding the significant issues relating to Fundamental Framework of Employee Stock Ownership Plan.

During this LIVE Webcast, you will hear:

  • Detailed guidance explained by the most qualified key leaders & practitioners.
  • Hear directly from key thought leaders
  • Interact directly with panel during Q&A

Enroll in this course today by clicking the “Register” button below. Space is limited and discounts apply for early registrants. 

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