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The Senate-passed tax cut legislation has incorporated a revised version of the Comprehensive Retirement Income Security Act (S. 742) as part of its income tax reduction legislation. The tax bill incorporates just about all of S.

By a vote of 56-42 the Senate rejected an amendment to the budget reconciliation bill to restore section 133 of the Internal Revenue Code.

Senate Finance Committee Republicans have agreed on a proposal to eliminate Section 133 of the Internal Revenue Code.

Johnny's Selected Seeds, which has had an ESOP since 2006 and became 100% ESOP-owned this year, hosted Maine Senator Susan Collins (R).

Senator Rob Portman (R-OH), who was an architect of legislation supporting S corporation ESOPs while a member of the House Ways and Means Committee, has been appointed to the Senate Finance Committee, where he joins his former House colleague and now Senator Ben Cardin (D-MD).

Senator Bernard Sanders (I-VT) has introduced two bills to encourage employee ownership. The first, S. 2909, provides funding for states to set up employee ownership programs.

Senators Carl Levin (D-Mich.) and Sherrod Brown (D-Ohio) introduced S. 1375, which would require companies to use the same value for their options on both their books and their tax returns.

The Department of Labor alleges that the trustee of the ESOP at Sentry Equipment Erectors should not have relied on the valuation report for a $21 million transaction. In the case (Acosta v. Vinoskey, No. 6:16-cv-00062-NKM-RSB, 2018 BL 134718 [W.D. Va. Apr.

Every year, people contact us hoping to submit topics for our annual conference after the deadline has passed. To get your proposal in, it must be submitted by October 3.

A settlement has been reached between the former ESOP participants, the Department of Labor, and the defendants in Solis v. Couturier (Civ. 2:08-cv-02732-RRB-GGH, E.D. Ca., filed Mar. 10, 2010).