The two tax bills described above also both contain significant new restrictions on the tax treatment of all kinds of deferred compensation, including stock-based compensation.
An ESOP has purchased all but a fractional percentage of Penmac Staffing Services in Springfield, Mo. The company employs over 15,700 people, has 26 branch locations in various states, and provides administrative and professional staffing for a wide variety of companies.
The University of Pennsylvania and the Employee Ownership Foundation have announced the 2012 Leading in an Ownership Setting, a certificate program for chief executives of ESOP companies.
Thirty-six people from 28 companies attended the annual meeting of the Pennsylvania Center for Employee Ownership (PaCEO) on February 27 and 28 in Harrisburg, Pennsylvania.
Pennsylvania companies interested in learning more about ESOPs can join a meeting hosted by the Pennsylvania Center for Employee Ownership (PCEO) on October 16 in Pittsburgh.
Representatives from the Pennsylvania Center for Employee Ownership will testify before the Pennsylvania House of Representatives Finance Committee on House Bill 1289 on June 19.
On October 6, the Pennsylvania Senate approved a resolution supporting employee ownership, noting that ESOPs provide an "effective tool for companies going through ownership transition by preserving their companies and jobs through employee ownership rather than closing or selling them to out-of-
The new automatic enrollment provisions for 401(k) plans in the Pension Protection Act allow companies to meet the 401(k) testing rules if they provide automatic enrollment (that is, employees opt out instead of opting in) that has the following features:
Despite repeated promises that an agreement would soon be reached, the conference committee considering pension reform has still been unable to find common ground.
