ESOP Advocacy Issues
For decades Employee Stock Ownership Plans have received unprecedented bipartisan and bicameral support in Congress. This is only possible because of the tireless work of our passionate community. However, there are some fundamental issues that our community must rally around if we want to continue to grow and thrive in the years to come.
Current ESOP Advocacy issues
As with all qualified employee benefit plans, ESOPs are governed by the Employee Retirement Income Security Act of 1974 (“ERISA”).
To ensure equitable representation of historically disadvantaged groups, Congress has provided for programs to support businesses owned by minorities, women, veterans, and other groups.
All defined contribution plans, including employee stock ownership plans (ESOPs), must provide a benefit statement to each participant annually.
Latest Advocacy News
Assistant Secretary of Labor Daniel Aronowitz Testifies on EBSA Priorities Relating to ESOPs
Assistant Secretary of Labor Daniel Aronowitz Testifies on EBSA Priorities Relating to ESOPs
Daniel Aronowitz, Assistant Secretary of Labor and the head of the Employee Benefits Security Adm
Department of Labor Releases New Guiding Principles for EBSA Enforcement Activities
Department of Labor Releases New Guiding Principles for EBSA Enforcement Activities
Washington, DC – The U.S.
House Education and Workforce Committee Passes ERISA Litigation Reform Legislation
House Education and Workforce Committee Passes ERISA Litigation Reform Legislation
The House Education and Workforce Committee today held a markup to debate and pass the ERISA Litigation Reform Act (HR 6084), a bill that would protect employee retirement savings from predatory lawsuits targeting ERISA-regulated plans, including ESOPs.
Department of Labor Highlights Growth and Impact of ESOPs in New Congressional Report
Department of Labor Highlights Growth and Impact of ESOPs in New Congressional Report
The U.S. Department of Labor (DOL) recently released its Employee Ownership Initiative Report to Congress. The bipartisan Worker Ownership, Readiness, and Knowledge (WORK) Act, enacted as part of the SECURE 2.0 Act in 2022, directed the DOL to report on its activities to promote employee ownership.
Letter Supporting Nominations of Janet Dhillon to be Director of the Pension Benefit Guaranty Corporation and Dan Aronowitz to be the Assistant Secretary at EBSA at the DOL
Letter Supporting Nominations of Janet Dhillon to be Director of the Pension Benefit Guaranty Corporation and Dan Aronowitz to be the Assistant Secretary at EBSA at the DOL
Dear Leader Thune, Leader Schumer, Chairman Cassidy, Chairman Crapo, Ranking Member Sanders, and