The Employee Ownership Update
July 1, 2013
UK to Celebrate Employee Ownership DayIn recognition of the flurry of employee ownership activity in the UK, in terms of both legislation and new business, the UK's Employment Relations and Consumer Minister Jo Swinson announced that July 4 will be Employee Ownership Day. The Minister noted that the day would "showcase the wide range of successful employee ownership models" and their impact on productivity, employee turnover, and business resilience. Employee Ownership day has its own logo, Web site, Twitter feed, and much more.
The Supreme Court, Gay Marriage, and ERISAIn U.S. v Windsor, the Supreme Court struck down the ban on same-sex marriages in the Defense of Marriage Act. The decision will affect the administration of ERISA-qualified retirement plans, such as ESOPs, for employees in the 12 states and the District of Columbia that have legalized same-sex marriages. Writing in CFO magazine, David McCann suggests that the cost to employers from the Supreme Court's decision is "expected to be modest and certainly won't be at a level that could be considered material."
Support for Employee Ownership in ColoradoThe Rocky Mountain Employee Ownership Center (RMEOC), an organizational member of the NCEO, has been actively promoting employee ownership in Colorado. On June 25 and 26, it hosted NCEO founder Corey Rosen for a series of meetings with State Representative Angela Williams (D-Denver), the chair of the Business, Labor, Economic and Labor Committee; Chris Martinez of the Denver Department of Economic Development; and Debbie Ortega of the Denver City Council. All three enthusiastically agreed to work on ways to get the state and city to make business owners more aware of employee ownership as a succession planning tool.
Seminars were also held for members of the Denver Bar Association and the Chamber of Commerce, while meetings with leaders of other local business organizations resulted in promises to make their members more aware of worker cooperatives and ESOPs.