An employee stock ownership plan (ESOP) is a retirement plan in which a company contributes its stock (or money to buy its stock) to the plan for the benefit of the company’s employees. Currently, it is estimated that ESOPs are a vital source of retirement savings for over 13 million employees.
ESOPs are governed by the Employee Retirement Income Security Act (“ERISA”) and the Internal Revenue Code. As a qualified plan, ESOPs must operate for “the exclusive benefit of plan participants.”
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If you have concerns over the valuation of an ESOP, or would like to report a specific instance of mismanagement involving an ESOP, please contact us at firstname.lastname@example.org or call our offices at (888) 551-9944.