Many new ESOPs include a requirement that within a specified period the financials must be updated and if certain parameters have not been met a Purchase Price Adjustment will be required. During this session our presenters will review the steps that Plan Sponsors should be taking, communication with their TPA as well as the affect on an ESOP's required loan payments and share release.
Learning Objectives:
1. Understand the mechanics of purchase price adjustments.
2. Learn the effect of a purchase price adjustment on your internal note.
3. Gain knowledge on the potential effect on the 404 maximum contribution test.
Mr. Williams is a Vice President of Plan Administration for Blue Ridge ESOP Associates and has over 15 years of experience in employee benefits, with a focus on plan design, implementation, administration and consulting services for ESOPs. He is a member of The ESOP Association, the National Center for Employee Ownership and is a speaker at various ESOP conferences. Jon earned a Bachelor of Science in Business from Virginia Commonwealth University, where he majored in Accounting and minored in Economics.
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