The Inside ESOP Fiduciary Handbook

by Corey Rosen, Scott Rodrick (Editor)

Inside fiduciaries for ESOPs have substantial legal responsibility and risk. Making sure an ESOP complies with the law and the plan document is the best insurance against costly legal problems, and at the same time it builds trust and credibility for employee ownership among plan participants. This book is meant to provide an overview of life as an inside ESOP fiduciary. It alerts the reader to the key issues, including ESOP basics, fiduciary issues, valuation, valuation scenarios fiduciaries may face, board-trustee interactions, and fiduciary insurance. The third edition has been rewritten throughout. Chapter 1 was updated; chapters 2 and 3 were replaced by a new chapter 2 addressing both topics; chapters 3, 4, and 5 (formerly 4, 5, and 6) were updated; a new chapter 6 was added on the U.S. Department of Labor's Fiduciary Process Agreement with GreatBanc Trust, an agreement that provides a useful roadmap for ESOP fiduciaries to follow on how to manage the valuation process; chapters 7 and 8 were updated; appendix 2 was replaced by a new appendix providing a sample RFP for an ESOP trustee; and three other new appendices were added (4, 5, and 6), providing checklists and a form that fiduciaries can use to ensure they are following the proper procedures.

139 pages, Paperback

Published March 8, 2017