Are you wondering if your business is a good candidate for an ESOP? The rules are complex, so let’s break it down for you.
Is Your Business a Good Candidate for an ESOP?
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Employee Stock Ownership Plans
An employee stock ownership plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company in the form of shares of stock. Employers can use ESOPs to align the interests of their employees with those of their shareholders. ESOPs boost employee satisfaction, retention, and job performance by linking your business’s financial success to employee retirement benefits; the better your business performs as a whole, the more your employees will benefit from their hard work.
Watkins Ross is 100% ESOP-owned; we understand the intricacies and unique provisions of employee stock ownership plans. Discover the specific benefits of employee stock ownership plans by exploring our ESOP articles on the Watkins Ross blog. Wondering if an ESOP can enhance your business’s retirement benefits? Connect with us here to obtain professional insight from our retirement plan team and discover whether an employee stock ownership plan is the right fit for your business.
Attribution Rules – The Family Tree
You don’t get to choose your family, and the same holds true with family attribution rules; but a company’s ownership is critical for accurate testing.
Safe Harbor Contributions for Defined Contribution Plans
There are several types of safe harbor contributions for defined contribution plans. Here is a breakdown of each of the types available.
2016 Michigan Employee Owner of the Year
Watkins Ross is pleased to announce that Sharon Miller-Walcott, QKA, Certified ESOP Specialist, was elected as the 2016 Employee Owner of the Year by the Michigan Chapter of The ESOP Association. The ESOP Association, a non-profit trade association founded in 1978, is...
ESOP: Fast Facts & Planning Tips
The National Retirement Planning Coalition has designated April 11-15 as the 2016 National Retirement Planning week. In celebration, each day this week Watkins Ross will share some fast facts and planning tips on the various types of retirement plans we service....
An ESOP Safari Adventure
Having attended the Great Lakes Regional ESOP Conference in October, I arrived back to work the following Monday a bit smarter. It was either because most of the break-out sessions had the word ‘fiduciary’ in the program title or because I discovered that putting your...
Do You Have the ESOP Factor?
Succession planning, exit strategy, sustainable business, retain passion, create liquidity, leave a legacy … if these words caught your attention, you may have the ‘ESOP Factor.’ What is an ESOP? An Employee Stock Ownership Plan (ESOP) is a qualified...
Benefits of Funding an Employer Match and/or Safe Harbor Contribution in an ESOP
Roughly 90% of companies with an employee stock ownership plan (ESOP) either sponsor a separate 401(k) plan or combine ESOP and 401(k) components together under a single KSOP plan. An ESOP can be used as the vehicle for receiving the employer’s matching contributions...
Get Your KSOP on by October 1, 2015
The typical Employee Stock Ownership Plan (ESOP) is designed to reward those who stay with the company, providing an annual allocation of contributions. The typical 401(k) plan is designed to encourage employees to make salary deferral contributions. ...
Yeah, the new kit is here!
Yeah! The new kit is here! The new kit is here! Every October, The ESOP Association and its members celebrate Employee Ownership Month (EOM). Each summer, the Press & Event Planning Kit, which highlights EOM activities of ESOP Association members, is...