Description
Archive 2024-196: ESOPs – What They Are, How They Work, and Why You Should Care
**Webinar 196: Live Broadcast Date: December 3, 2024, 1:00-3:00 pm ET**
Speakers: Greg Weiss, MBA, CPA/CFF, CVA
Description:
Employee Stock Ownership Plans (ESOPs) present a tremendous opportunity for CPA firms. Whether it is consulting, valuation, audit, or tax work, CPA firms will benefit from developing a knowledge-based ESOP practice. Attendees will gain an understanding of ESOPs and how services they already provide can be tailored to grow this niche.
Learning Objectives:
After completing the session, attendees will be able to:
- Identify the different stages of an ESOP’s lifecycle.
- Determine what services ESOPs need at each lifecycle stage.
- Apply professional expertise to help ESOPs succeed.
Webinar Outline:
- History of employee ownership in the U.S.
- Brief History of ESOP provisions of ERISA
- What ESOPs are
- Defined contribution plan
- Succession planning
- Acquisition tool
- Common myths
- Establishing an ESOP
- How it was done in the past
- The great recession
- DOL/Trustee Process Agreements
- How it is done now
- Buy-side roles
- Sell-side roles
- Formal DOL regulation on adequate consideration?
- Mechanics of an ESOP transaction
- How it was done in the past
- Operating an ESOP
- Annual requirements
- Annual valuation
- Valuation nuances specific to ESOPs
- Maintaining participant accounts
- Annual audit
- Repurchase obligation studies
- Rebalancing
- DOL and other litigation
- Annual requirements
- Benefits to
- The selling owners
- To the employees
- To the company
- To the economy
- To practitioners
- ESOP company statistics
- Resources
- Organizations
- Publications
Handouts:
- VPS webinar PowerPoint slides
- Access to a video recording of the program
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