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ESOP legislation gains bipartisan support: A look at recent Senate bills

Recent bipartisan US Senate proposals aim to strengthen Employee Stock Ownership Plans (ESOPs) by streamlining their formation for small businesses and expanding US Department of Labor support. The legislation reflects growing consensus that ESOPs enhance retirement security and employee engagement, aligning with broader efforts to modernize benefit structures.

In this BenefitsPRO article, Allison Wilkerson and Myriem Bennani break down the legislation and the implications for ESOP trustees.

Allison Wilkerson weighs in on ESOP legislation in PLANSPONSOR

The US House of Representatives’ Committee on Education and Workforce recently advanced three retirement-related bills, including the bipartisan Retire through Ownership Act, which aligns Employee Stock Ownership Plan (ESOP) valuations with Internal Revenue Service standards. Allison Wilkerson said the bill would “go a long way” in reducing the valuation and fiduciary risk for ESOP trustees who currently depend heavily on case law due to limited formal guidance.

Learn more about these retirement-related bills in this PLANSPONSOR article.