Company: First Bankers Trust Services
Title: Executive Vice President, Fiduciary Advisory Group
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First Bankers Trust ServicesAs an ESOP advisor, Danielle Montesano is involved in: Buying and selling of plan assets Ensuring that the ESOP loan terms are reasonable and coordinating the scheduled debt service payments ... Read the blog post >
Danielle began her career practicing employee benefit law and developed an expertise in ERISA fiduciary matters associated with structuring, implementing, and governing Employee Stock Ownership Plans (ESOPs). She has extensive knowledge gained from more than 20 years working with employee-owned companies, and concentrated experience with matters of corporate governance, valuation, and Department of Labor audit and regulatory issues. Danielle is a member of the Advisory Board of Employee Owned S‐Corporations of America (ESCA), a member of the National Center for Employee Ownership (NCEO), chairperson at the Legislative and Regulatory Committee of The ESOP Association, and serves as an Executive Member of the Illinois Chapter of The ESOP Association. She is a frequent speaker and is nationally recognized for her expertise. Danielle has been with First Bankers since 2010.
Juris Doctor, Loyola University Chicago School of Law
- Buying and selling of plan assets
- Ensuring that the ESOP loan terms are reasonable and coordinating the scheduled debt service payments
- Hiring the plan advisors and evaluating their opinions
- Voting and/or accepting direction to vote shares of company stock for shareholder meetings
- Monitoring the ESOP’s compliance with the plan and loan documents, trusts, and all applicable laws and regulations
- Evaluating ESOP transactions independently
- Accepting employer contributions and collecting income on plan assets
- Completing participant distributions and providing all the required tax reporting documents to retirees and terminated employees
- Providing statements to all necessary parties in a timely matter