Lessons from the GreatBanc Settlement – ESOPs to Face More Scrutiny

The US Department of Labor (DOL) has intensified its scrutiny of Employee Stock Ownership Plans (ESOPs) over the last five years. In addition, the DOL has brought suit against several fiduciaries of ESOPs for issues ranging from fiduciary duty to valuation to conflicts of interest.

In June 2014, The DOL and GreatBanc Trust Company reached a settlement that could have lasting ramifications for fiduciaries of ESOPs holding non-publicly traded employer securities.

Learn more about how this ruling could affect your company’s ESOP in our latest MHM Messenger.

%d bloggers like this: