Blue Ridge ESOP Associates Industry News

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

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

Your SPD Questions Answered

Posted by Jordan Callaham

Dec 16, 2019 10:33:58 AM

What is an SPD?

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Topics: ERISA, DOL, Terminated Participants, Plan Document