Since the end of the year is nearing and most Plan Administration Reports and Participant Statements have been distributed, you may be getting questions from participants regarding how much they “own” of their account and how this calculation is determined. What percentage of their total account a participant will receive when they terminate is determined by the vesting rules contained in your plan document. This article reviews the requirements for employees to receive credit for years of service related to vesting ...
As we enter the 4th quarter of 2017 and approach year end you will want to make sure all necessary payments to participants are made prior to December 31st. One such payment is the Required Minimum Distribution (RMD).
IRC § 401(a)(9) provides that plan participants age 70 ½ must commence payments from the Plan. This regulation applies to all qualified retirement plans including ESOPs, 401(k) Plans, Profit Sharing Plans, Pension Plans and Individual Retirement Accounts (IRAs).
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Steiker, Greenapple & Fusco, P.C., a nationally recognized law firm focusing on Employee Stock Ownership Plans (ESOPs), is proud to announce the hires of Bart R. McIlonie and Sean-Tamba Matthew, two attorneys who have joined the firm.
"Bart brings terrific ESOP experience to SG&F and Sean is an excellent young lawyer with a commitment to social impact. Both of them will be important parts of our growing team," said James G. Steiker, Chairman and CEO of Steiker, Greenapple & Fusco, P.C. "We're ...
When an ESOP is implemented, it is common for the distribution provisions in the plan document to follow the ESOP specific distribution rules defined by Section 409(o) of the Internal Revenue Code. This section of the code specifies the outer limits within which a plan must make distributions to participants.
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NCC Automated Systems, an integrator and manufacturer in the food packaging, and ophthalmic automation industries, announced today that the company has formed an ESOP (Employee Stock Ownership Plan). In the transaction, ownership sold a significant interest to a newly created Employee Stock Ownership Trust, allowing current and future employees to gain a beneficial ownership interest in the Company without any personal cash investment.
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The firm formerly known as Steiker, Greenapple & Croscut P.C. is pleased to announce that Paul S. Fusco has become a named partner of the firm. As such, the firm has changed its name to Steiker, Greenapple & Fusco P.C., effective immediately.
"We have been thrilled to have Paul as a partner and greatly respect his work, his commitment to employee ownership, his commitment to his clients, his commitment to his partners and his commitment to the ESOP community," said James G. ...
Tina Fisher returns to SES' Plan Services Group
We are excited to welcome Tina back to the SES Advisors Plan Services Group. Tina will serve as vice president in the firm’s Ohio office, providing consulting and technical support to clients and internal staff on retirement plan design, compliance and administrative issues for ESOPs.Tina brings more than 21 years of experience working with qualified retirement plans, including 17 years focusing on clients with Employee Stock Ownership Plans (ESOPs).
Contact Tina Fisher:
Date: February 25, 2014Location: Chaparral Suites, 5001 North Scottsdale Road, Scottsdale, AZSES Advisors is pleased to sponsor and present at NCEO's Feasibility & Best Practices for S Corporation ESOPs seminar to be held February 25, 2014 in Scottsdale, AZ. This one-day meeting brings together leading experts from around the country to provide a practical, step- by- step guide to determine if an ESOP will work for you, and if it does, how to set up a plan that will work.Paul Fusco will present ESOP Transaction Structures at 9:30 a.m. ...
Rochester, NY, October 31, 2013
Janet Poccia and Mohammed Lawal, as well as Steve Greenapple, are featured in this US Business Executive magazine article.
Continuing a Century-long Tradition of Seasonal Seafood Backed by Dedicated Employee Owners from SES Advisors
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