What is an ESOP?

I started a new job as an accounting manager and my employer notified me that I will be eligible to participate in their Employee Stock Ownership Plan (“ESOP”) after one year of service. They also said the ESOP was leveraged. In addition to being eligible to participate in the ESOP, I was given the task …

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Pack Rat? Hoarder? Neat Freak? Record Retention Guidelines

If you are either quick to toss things, or are one who keeps things around until you run out of space, you might want to take a step back and reevaluate your system. While the “round file” may be the best place to immediately “file” junk mail and the like, when it comes to important …

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Proposed Changes by the DOL to the Definition of “Fiduciary”

As a follow up to my blog, “Planned Changes to the Regulatory Definition of Fiduciary,” the Department of Labor (DOL) has issued a proposed regulation that further defines when a person becomes a fiduciary of a plan by providing investment advice for a fee or other compensation, thus making them subject to the Employee Retirement Income …

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