Withdrawal of ESOP Valuation Guidelines Turns Out to Be False Rumor

We reported recently that the Department of Labor had withdrawn its valuation guidelines. That information was based on reports from several ESOP consultants, but it turned out to be a misunderstanding. In fact, the Department indicated that it was taking the valuation project off its list of current projects. The guidelines remain just what they were--proposed, with no prospect for becoming finalized any time in the foreseeable future.