Colorado has become the most recent state to create a state employee ownership center. Governor Jared Polis has created the Employee Ownership Office as a standalone center in the Colorado Office of Economic Development and International Trade (OEDIT). The office will have its own dedicated staff. It has $1.75 million in funding over the next two years.
This fall, the NCEO will be offering its first-ever communications committee training and networking program, the Communications Committee Crash Course.
Employee retirement plan holdings in company stock in banks have declined in the last two decades, but employees at Silicon Valley Bank (SVB) and several other banks saw significant losses following SVB’s implosion.
The National Defense Authorization Act signed into law by President Biden on December 27 contains the first-ever government contracting program to specifically encourage ESOPs.
In Walsh v. Bowers, No. 1:18-cv-00155-SOM-WRP (D.C. Hawaii, September 17, 2021), a district court decisively ruled in favor of the trustee and the board of directors of the ESOP company Bowers+Kubota in an ESOP valuation case.
In a potentially important ruling, a district court has dismissed a case against defendants at Inland Fresh Seafood Company because plaintiffs did not first exhaust the remedies for complaints provided by the plan.
The recent COVID-19 relief bill attached to the Consolidated Appropriations Act allows certain retirement plan sponsors who laid off or furloughed employees due to the pandemic to avoid a partial plan termination.
As trainers and educators, we at the OEOC spend a fair amount of time working with companies as we all try to unlock the secrets of building the ideal ownership culture.
