Sep 7, 2023 4:05:51 PM
There are many options to consider when determining the best way to handle an ESOP plan’s
Topics: Repurchase Obligation
Aug 25, 2023 8:55:31 AM
Your annual ESOP statement gives you a terrific opportunity to make the most of employee ownership. Seize it by implementing these seven practical suggestions to increase understanding of your ESOP, strengthen your company’s culture, and promote employee ownership as a powerful tool for improved performance and employee retention.
Aug 25, 2023 8:54:37 AM
Each ESOP is unique and must consider their own company goals when deciding the appropriate benefit levels. There should be an ongoing balance between the company cash flow and participant benefit levels. The goal is to maximize the expected return for the participant, however, to do so the ESOP program must be sustainable and not hinder the growth of the company. A consideration especially as an ESOP matures is determining the appropriate benefit level. Consistent benefit levels can help with a sustainable repurchase process and set expectations for the plan participants. Benefit levels are measured based on the contributions and the fair market value.
Aug 25, 2023 8:52:05 AM
The fair market value of employer stock is determined by an independent valuation firm; however, the fiduciary is ultimately responsible for making sure the stock has been properly valued. Over or under valued stock can lead to deduction issues, a prohibited transaction, or other violations. Fiduciaries must act prudently and in good faith with the fair market value calculated with adequate consideration to prevent such issues.
Aug 22, 2023 3:31:32 PM
August 31, 2023 - Orlando, FL
Jul 20, 2023 3:34:06 PM
Blue Ridge is proud to be a contributing sponsor for the OH/KY Chapter - 2022 Thoroughbred Conference on July 25, 2023 hosted by The ESOP Association for the OH/KY Chapter. Our professionals, Pete Shuler and Jim Bado will be presenting Really Understanding the ESOP Distribution Process. Bring your distribution questions to this practical session. They'll cover the rules and regulations regarding distributions at retirement, disability, death and for any other reason. Their goal: help you build a real-world understanding of the distribution process while avoiding any mention of code sections (sorry no guarantees). To strengthen your knowledge, we'll also discuss diversification, in-service, and thrilling acronyms like QDRO and RMD.
Jun 12, 2023 4:09:44 PM
Blue Ridge ESOP Associates' professionals will be attending the Wisconsin Chapter Summer Meeting this Thursday at Lambeau Field.
May 22, 2023 2:29:46 PM
Please note the following article is directly from The ESOP Association which was posted May 19, 2023.
Blue Ridge ESOP Associates can provide everything you need to administer your ESOP, 401(k) or combination ESOP/401(k) plan. Our full service outsourcing, which can include participant on-line services, provides worry-free assistance for your HR or Benefits staff, leaving them free to concentrate on other responsibilities.