Tag: ESOPs

FirstFed Financial Corp. employees have filed a stock-drop suit alleging the bank kept company stock in its employee-stock ownership plan (ESOP) after it was no longer prudent to...

Wilmington Trust has hired Karen S. Bonn as a client development officer at Wilmington Trust Retirement and Institutional Services Company (WTRIS).

The U.S. Supreme Court denied a request by Nestlé Purina Petcare Co. to review an 8th U.S. Circuit Court of Appeals decision that the company cannot deduct from...

New research finds the average ESOP participant has 20% more defined contribution assets than the average participant in a non-ESOP DC plan, and far less comes out of...

Even though ESOPs were not immune to impacts of the recent recession, leaders of ESOP companies still feel strongly that their company is better off than their non-ESOP...

Approximately 90% of ESOP Association members surveyed reported having retirement savings plans in addition to the ESOP (employee stock ownership plan) including 401(k) plans, pension plans, stock purchase...

A federal court judge has given preliminary approval to a $7.25-million settlement of an Employee Retirement Income Security Act (ERISA) action against the Federal National Mortgage Association (Fannie...

Equity Administration Solutions, Inc. (EASi) has launched an equity compensation plan exercise wizard with a design that anticipates the different needs that a participant, a financial adviser, and...

The trustee of an employee stock ownership plan (ESOP) acted in good faith when it determined the fair market value of company stock, so it did not violate...

Two federal lawmakers have introduced a bill they say would boost employee-owned businesses through tax law changes.

A federal court has dismissed most claims against State Street Corporation and its retirement plan fiduciaries regarding the offering of company stock as an investment in its employee stock...

The U.S. Department of Labor has obtained consent judgments providing for restitution of more than $12 million by plan officials and service providers involved with the employee stock...

The U.S. Department of Labor has sued a trustee of the Westra Construction Inc. Employee Stock Ownership Plan (ESOP) for alleged violations of the Employee Retirement Income Security...

A federal court has ruled that a sponsor of an employee stock ownership plan did not breach its fiduciary duties by amending the plan to force terminated employees...

A federal court has moved forward claims that fiduciaries for the Tribune Company Employee Stock Ownership Plan (ESOP) breached their duty to the plan when real estate investor...

A federal court has ruled that a former employee stock ownership plan (ESOP) participant can pursue his claim that plan fiduciaries breached their duties by failing to tell...

Clewiston, Florida-based U.S. Sugar has agreed to pay $15.9 million to settle a breach of fiduciary duty lawsuit brought by 4,000 current and former employees, BLR reported.

The U.S. Department of Labor is suing the trustees and other fiduciaries of the employee stock ownership plans and eligible individual account plans of DirecTECH Holding Co. Inc....

Charles Schwab has added integrated IFRS 2 reporting functionality into its Schwab EquiView recordkeeping system for corporate stock plan clients.

Equity Administration Solutions, Inc. (EASi), a stock plan management software company, has introduced a Universal Direct Broker Interface (DBI) capability.