I rate Patrice 5/5 stars. She's an excellent communicator and responds very promptly to questions. Her valuation report was very detailed, thorough and easy to read. It addressed all the Department of Labor requirements in conjunction with the Great Bank agreement....
I’d give Patrice a "5" rating without hesitation. Patrice’s approach to our valuation was methodical, well researched, and most importantly, made sense to us. She took the time to get to know our business in great detail, both inside operations and external markets....
One of the most important fiduciary responsibilities of an ESOP trustee is to establish the annual stock price. This can be accomplished by seeking an independent valuation firm for purposes of establishing the fair market value of the sponsor's stock, since a...
When a former employee is being paid his stock from an ESOP, and he has the right to "put" the shares back to the company or the plan, the company often has to make a tough decision --- Do we retire (redeem) the shares (buying them back into the corporation's treasury...
What is rebalancing? It is peculiar to Employee Stock Ownership Plans (ESOPs). In its Response to Technical Assistance Request (#4) (http://www.irs.gov/pub/irs-tege/esop_tar4_022310.pdf), issued April, 2009, the IRS has said "… we define rebalancing as the mandatory...
A long-standing OneAmerica ESOP client wanted to add rebalancing to their ESOP. Rebalancing is a technique used in ESOPs that have both stock and some other investments (such as cash) within the plan and basically allows an employer to rebalance the accounts of all...
OneAmerica was involved in a finalist presentation for a prospective 401(k) and DB client (1 401(k) $25mm, 2 DBs totaling $25mm). As it turned out, they also had an ESOP but that plan was not on the table. At the end of the presentation, the CFO mentioned that they...
A new ESOP was preparing for its closing. The 100% owner was trying to decide whether to take a 1042 election and defer the capital gains (which would mean that he and his son would be excluded from participating in the ESOP) or to not take 1042 and be included in the...
Sometimes, families working in the business have conflicts caused by the differences with behaviors and expectations. Some of these family business conflict stories show up as great novels and news articles. Have you heard of children who can no longer work with...
In simple terms, Management Training is the process of educating the pupil with best practices, skills development, and management theory. Leadership development isn’t always about performance and success. It is about experiential events that put the pupil through a...