Blue Ridge ESOP Associates Industry News

2022 TEA National Conference

Posted by Blue Ridge ESOP Associates

May 4, 2022 10:30:50 AM

It's time for the 2022 TEA National Conferenceand below are the professionals from Blue Ridge ESOP Associates who will be speaking.

May 3-6, 2022

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Redeeming vs. Recycling Stock

Posted by Ray Mazurowski, QKA

Mar 31, 2022 4:48:45 PM

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Topics: Distributions, ESOP shares

IRS/DOL Corner

Posted by Scott J. Freund, QPA, QKC

Mar 31, 2022 4:48:15 PM

On February 24, 2022, the Internal Revenue Service (IRS) published proposed regulations regarding the calculation and payment of required minimum distributions (RMD’s) under qualified retirement plans. The Proposed Regulations update existing regulations to account for the increase in a participant’s required beginning date to age 72. Specifically for our ESOP and 401(k) clients, these proposed regulations also provide helpful clarifications on the calculation of death benefits.

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Balancing Repurchase Liability and Company Goals

Posted by Dustin Pirie

Mar 31, 2022 10:07:00 AM

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Topics: Repurchase Obligation


Posted by Renee M. Stadtmueller, CPA, QPA

Mar 31, 2022 9:58:00 AM

The deadline to amend your retirement plans for the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the Coronavirus Aid, Relief, and Economic Act (CARES Act) is the last day of the first plan year beginning on or after January 1, 2022 (December 31, 2022 for calendar year plans). Highlighted below are a few key changes that may need to be included in your amendment:

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Topics: RMD, CARES Act, Participant Loans

Becoming a Plan Participant and Earning a Contribution

Posted by Ray Mazurowski

Feb 23, 2022 2:06:00 PM

Did you know becoming a participant and earning a contribution are two separate events? An employee could become a participant and not earn a contribution. Plan eligibility and contribution requirements are different aspects of your plan document.

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Topics: Plan Document

Disability in an ESOP

Posted by Kim M. Thompson

Dec 22, 2021 10:03:58 AM

When an employee terminates employment with the company due to a disability, his or her ESOP account may be subject to certain procedures and additional benefits. Before these procedures and benefits can be applied, it is important to understand how your ESOP Plan Document defines disability and whether or not the employee’s circumstance meets that definition.

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December 2021 - IRS/DOL Corner

Posted by Scott J. Freund, QPA, QKC

Dec 22, 2021 10:03:18 AM

On November 4, 2021, the IRS announced cost of living adjustments affecting qualified retirement plans for 2022. Almost all of the limits increased from 2021 to 2022, some by greater amounts than we have seen in some time.

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What is diversification in an ESOP and what are your responsibilities as a Plan Sponsor?

Posted by Jessica Sinnen

Dec 22, 2021 10:02:13 AM

Internal Revenue Code Section 401(a)(28) allows employees to diversify a portion of their stock once they meet certain eligibility requirements. There are specific age and service requirements outlined by the IRS to determine who is a Qualified Participant, however your plan may allow for rules that are less restrictive.

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Topics: Diversification, Plan Document

Happy Holidays from Blue Ridge ESOP Associates 2021

Posted by Blue Ridge ESOP Associates

Dec 16, 2021 11:33:00 AM


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