The 2019 ESOP National Conference, an annual gathering for employee owners from all levels, association volunteer leaders and expert professionals, took place May 22–24. Two McDermott partners, Theodore (Ted) M. Becker and Erin Turley, presented three sessions during the conference, the slides of which are available for download on the conference website. See descriptions of the presentations below:
- New & Notable ESOP Valuation Issues
Co-Presented by Erin Turley ESOP valuation methodology and theory continue to evolve in part due to ESOP litigation, DOL investigations, academic studies and other outside factors that may potentially impact ESOP valuations today. This advanced valuation session discussed recent “hot topics” to consider when valuing an ESOP company.
- Legislative, Regulatory and Judicial Update
Moderated by Ted Becker This session provided an update of court decisions, IRS and DOL guidance and activities, and federal legislation of significance to ESOP companies, fiduciaries and service providers.
- Recent DOL Audits, Investigations and Claims
Co-Presented by Ted Becker This session provided information regarding some of the emerging best practices in the ESOP community with respect to, and as a result of, positions taken by the DOL in audits and investigations of ESOPs and ESOP transactions and claims made by the DOL and court decisions in related litigation. The session addressed how an ESOP transaction should be structured, who should be involved, and how the parties can proceed in a way that is least likely to trigger concern or claims by the DOL.
