On Top of ESOP Developments: Insights from the 42nd ESOP National Conference

By and on August 1, 2019

The 2019 ESOP National Conference, an annual gathering for employee owners from all levels, association volunteer leaders and expert professionals, took place May 22–24. Two McDermott partners, Theodore (Ted) M. Becker and Erin Turley, presented three sessions during the conference, the slides of which are available for download on the conference website. See descriptions of the presentations below:

  1. New & Notable ESOP Valuation Issues
    Co-Presented by Erin TurleyESOP valuation methodology and theory continue to evolve in part due to ESOP litigation, DOL investigations, academic studies and other outside factors that may potentially impact ESOP valuations today. This advanced valuation session discussed recent “hot topics” to consider when valuing an ESOP company.
  2. Legislative, Regulatory and Judicial Update
    Moderated by Ted BeckerThis session provided an update of court decisions, IRS and DOL guidance and activities, and federal legislation of significance to ESOP companies, fiduciaries and service providers.
  3. Recent DOL Audits, Investigations and Claims
    Co-Presented by Ted BeckerThis session provided information regarding some of the emerging best practices in the ESOP community with respect to, and as a result of, positions taken by the DOL in audits and investigations of ESOPs and ESOP transactions and claims made by the DOL and court decisions in related litigation. The session addressed how an ESOP transaction should be structured, who should be involved, and how the parties can proceed in a way that is least likely to trigger concern or claims by the DOL.
Erin TurleyErin Turley
  Erin Turley focuses her practice on employee benefits matters. She has extensive experience handling issues pertaining to the Employee Retirement Income Security Act of 1974 (ERISA) and employee stock ownership plans (ESOPs). Read Erin Turley's full bio.


Ted BeckerTed Becker
Ted Becker focuses his practice on litigation under the Employee Retirement Income Security Act (ERISA) and related federal and state actions, and defense of government investigations and audits relating to employee benefit, health and welfare, and retirement plans brought by the US Department of Labor, the Internal Revenue Service, and the US Department of Justice. He is a leading voice and nationally recognized practitioner in this complex practice area. He has represented public and private companies that sponsor employee benefit, health and welfare, and retirement plans governed by ERISA, and their directors and officers and plan fiduciaries, as well as service providers to ERISA plans and plan sponsors. He has extensive experience in Employee Stock Ownership Plans (ESOPs) and has defended some of the highest profile lawsuits involving ESOPs, helping to define the landscape of the evolving law relating to ESOPs. Read Ted Becker's full bio.

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