Employee stock ownership plan

ESCA: Top Biden Economist: Encouraging Employee Ownership Could Improve Job Quality, Increase Workers' Wealth & Productivity

Retrieved on:

Tuesday, January 12, 2021

Employee stock ownership, ESOP, Employee stock ownership plan

As part of his study, Bernstein interviewed entrepreneurs about why they decided to start ESOPs.

Key Points:

As part of his study, Bernstein interviewed entrepreneurs about why they decided to start ESOPs.
Ken Baker, CEO, New Age Industries: "I wanted a high-performance company, and I knew that if I didn't give ownership, I wouldn't get high performance.
"Employee ownership and ESOPs in particular should be part of our national discussion on ways to reduce inequality," Bernstein said in releasing the 2016 analysis.
"ESOPs transfer capital ownership to wage earners, directly reducing our extremely high levels of wealth concentration, and ESOP firms appear to have less internal wage dispersion."

Taylor® Guitars Transitions Ownership To Its Employees

Retrieved on:

Monday, January 11, 2021

Employee stock ownership plan, Employee stock ownership, ESOP

EL CAJON, Calif., Jan. 11, 2021 /PRNewswire/ -- Taylor Guitars, a leading global builder of premium acoustic guitars, is pleased to announce its transition to 100% employee ownership through an Employee Stock Ownership Plan ("ESOP").

Key Points:

EL CAJON, Calif., Jan. 11, 2021 /PRNewswire/ -- Taylor Guitars, a leading global builder of premium acoustic guitars, is pleased to announce its transition to 100% employee ownership through an Employee Stock Ownership Plan ("ESOP").
"We have delighted in giving people the joy of music and hope to do so for generations to come," said Bob Taylor, co-founder and President of Taylor Guitars.
Taylor Guitars will serve its customers, suppliers, and broader community with the same passion and innovation it has before.
The ESOP is a type of tax-qualified defined contribution plan through which employees receive a retirement benefit linked to Taylor Guitars' future equity value.

Sale is Finalized to Unison Solutions Inc. Employee Stock Ownership Plan (ESOP)

Retrieved on:

Thursday, December 17, 2020

Articles, Energy sources, Energy, Employee stock ownership, Biogas, Renewable energy, Rng, Renewable resource, ESOP, Employee stock ownership plan

For Unison Solutions, Inc., the ESOP also means that the jobs will stay local to Dubuque, even as the company continues to grow.

Key Points:

For Unison Solutions, Inc., the ESOP also means that the jobs will stay local to Dubuque, even as the company continues to grow.
Unison Solutions, Inc. manufactures biogas conditioning equipment used to produce renewable energy and renewable natural gas (RNG).
ESOPs are the only retirement plan allowed to borrow money to purchase stock and are generally funded only by the company.
According to the National Center for Employee Ownership (NCEO) there are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees.

Kitware Becomes a 100 Percent Employee-Owned Company

Retrieved on:

Tuesday, December 8, 2020

Data management, Technology, Other Technology, Other Science, Software, Research, Science, Employee stock ownership plan, Kitware, ESOP, Employee stock ownership

Kitware, Inc. today announced the transfer of all of its stock into an Employee Stock Ownership Plan (ESOP), making the company 100 percent employee-owned.

Key Points:

Kitware, Inc. today announced the transfer of all of its stock into an Employee Stock Ownership Plan (ESOP), making the company 100 percent employee-owned.
The shift to employee ownership will help preserve Kitwares employee-centric culture and retain its flexibility and sustainability as an independent company.
Founded in 1998, Kitware has grown from its five original founders to more than 200 employees worldwide.
The company works with customers to solve the worlds most complex scientific challenges through customized software solutions.

Sale is Finalized to Quadrant Holding Co., Inc Employee Stock Ownership Plan (ESOP)

Retrieved on:

Tuesday, November 10, 2020

Employee stock ownership plan, Employee stock ownership, ESOP, Stock, Companies, Employee stock ownership plans in the United States, Draft:National Center for Employee Ownership

JOHNSTON, Iowa, Nov. 10, 2020 /PRNewswire-PRWeb/ --Quadrant Holding Co., Inc. dba AKC Marketing, REL Productions and Dwebware has announced the successful transfer of 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP).

Key Points:

JOHNSTON, Iowa, Nov. 10, 2020 /PRNewswire-PRWeb/ --Quadrant Holding Co., Inc. dba AKC Marketing, REL Productions and Dwebware has announced the successful transfer of 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP).
Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company.
ESOPs are the only retirement plan allowed to borrow money to purchase stock and are generally funded only by the company.
According to the National Center for Employee Ownership (NCEO) there are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees.

Retirement Planning for Small Business Owners

Retrieved on:

Tuesday, October 13, 2020

Articles, Business, Economy, Entrepreneurship, Small business, Retirement planning, Retirement, Pension, Finance, Succession planning, Employee stock ownership plan

For instance, retirement planning for small business owners will be much different than employees of big corporations.

Key Points:

For instance, retirement planning for small business owners will be much different than employees of big corporations.
What are the different retirement plans available for small business owners?
A comfortable retirement should be a goal for all business owners, whether you're just getting started or quickly approaching retirement.
Zoe Financial helps small business owners plan for retirement by connecting them with top financial advisors.

Janet Moyer Landscaping Announces its Transition to Employee Stockholder Management

Retrieved on:

Tuesday, September 22, 2020

Musicians, Employee stock ownership plan, Employee stock ownership, Moyer, Rathje, Janet Jackson

SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ -- Janet Moyer Landscaping (JML), a full-service landscaping company based in San Francisco, has made public its transition to a new management team formed from employees who are part of its Employee Stock Ownership Plan (ESOP).

Key Points:

SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ -- Janet Moyer Landscaping (JML), a full-service landscaping company based in San Francisco, has made public its transition to a new management team formed from employees who are part of its Employee Stock Ownership Plan (ESOP).
Effective immediately, Caleb Goodwin and Joseph Couture will assume titles of Vice President and join Michael Padgett (already a Vice President) and take over operational management of the Company.
They will report to the Board, consisting of Janet Moyer (founder and formerly President, Michael Hofman (formerly Executive Vice President), and Lori Rathje (a long-term management consultant with the Company), who will help guide the transition over the next few years.
Janet Moyer Landscaping is an award-winning, full-service landscaping company based in San Francisco, CA.

Core Documents helps employers get COVID-19 relief for Section 125 health plans

Retrieved on:

Tuesday, June 16, 2020

Taxation in the United States, Healthcare in the United States, Employee compensation in the United States, Cafeteria plan, Fiscal policy, Employee benefits, Tax, Economy of the United States, Economy, Employee stock ownership plan, Income tax in the United States

In response, the IRS issued guidance for IRC Section 125 to allow COVID-19 relief to taxpayers through employer-sponsored group health plans.

Key Points:

In response, the IRS issued guidance for IRC Section 125 to allow COVID-19 relief to taxpayers through employer-sponsored group health plans.
To take advantage of these changes, employers need to know what relief is available, when it takes effect, and how to enact it without losing the tax-advantages granted to benefit plans by IRC Section 125.
As a leading provider of tax-saving benefit plan documents for 20+ years, Core Documents provides everything an employer needs for a complete and custom Section 125 plan document package for far less than others charge.
To learn more about COVID-19 group health plan relief available to employers and the new Core COVID-19 plan amendment package, visit www.coredocuments.com/covid19 or call 1-888-755-3373.

Blue Ridge ESOP Associates Announce Investment by Existing Management and Levine Leichtman Capital Partners

Retrieved on:

Friday, March 27, 2020

Employee stock ownership plan, Blue Ridge, Minton

CHARLOTTESVILLE, Va., March 26, 2020 /PRNewswire/ -- Marie Minton and Greg Washburn, the current owners of Blue Ridge ESOP Associates, announced that Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, has invested in Blue Ridge ESOP Associates ("Blue Ridge" or the "Company") in partnership with the existing owners and the management team.

Key Points:

CHARLOTTESVILLE, Va., March 26, 2020 /PRNewswire/ -- Marie Minton and Greg Washburn, the current owners of Blue Ridge ESOP Associates, announced that Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, has invested in Blue Ridge ESOP Associates ("Blue Ridge" or the "Company") in partnership with the existing owners and the management team.
Blue Ridge is the leading provider of technology enhanced solutions and services for the administration and recordkeeping of Employee Stock Ownership Plans ("ESOPs") and associated 401(k) plans.
Marie Minton and Greg Washburn stated "We are delighted that our dedicated management team and LLCP are taking ownership in Blue Ridge.
Gentry Locke served as legal advisor to Blue Ridge and the management team.

Publix Hiring Retail and Distribution Associates

Retrieved on:

Friday, March 20, 2020

Publix is seeking to hire thousands of associates by the end of March to fill positions in its stores and distribution centers.

Key Points:

Publix is seeking to hire thousands of associates by the end of March to fill positions in its stores and distribution centers.
Were looking for people who have a desire to serve, are passionate about the food industry, are willing to work hard and ready to build a career at Publix.
Eligible Publix associates also benefit from being owners of the company through profit sharing in the employee stock ownership plan and stock purchase plan.
Publix, the largest employee-owned company in the U.S. with more than 200,000 associates, currently operates 1,243 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.