On June 12, the Financial Accounting Standards Board (FASB) announced that it would "indefinitely defer certain disclosures about investments held by a nonpublic employee benefit plan in its plan sponsor's own nonpublic equity securities." FASB had originally proposed disclosures that would have required a description of the specific valuation methods used and the specific rates applied. Today's project updates for Fair Value Measurement Disclosures of Private Company Equity Securities by Employee Benefit Plans are now online.
FASB solicited feedback during May ...
Philadelphia, PA - May 10, 2013 - SES Advisors congratulates Paul Farrell, President and CEO of Modern Group, on his recent interview with the Philadelphia Business Journal.
Modern Group is a leading distributor of forklifts, warehouse products, construction equipment, generators and stand-by power generation, serving customers throughout New Jersey, Pennsylvania and Delaware since 1946. Paul joined the company in 2004 and was recently promoted to President and CEO. Modern Group became 100% employee-owned in 2003.
Read the CEO File interview or ...
The federal Defense of Marriage Act (DOMA) provided two things: Section 3 established a federal definition of marriage as a legal union between one man and one woman and Section 2 provided that no state shall be required to recognize as a marriage any relationship between individuals of the same sex even if it is treated as a marriage by another state and no state shall be required to grant rights based on such relationship.
The United States Supreme Court ruled that ...
SES Advisors congratulates Your Building Centers (YBC) and its employee owners on being recognized as the 2013 Entrepreneur of the Year by LBM Journal.
YBC is a 100% ESOP-owned Pennsylvania Company with 14 convenient locations, serving professional contractors and do-it-yourselfers with all of their building material needs. They are the largest employee owned lumber and building material supplier in Pennsylvania.
LBM Journal's Entrepreneur of the Year award isn't necessarily a new business. According to the Journal, "it describes a company that excels at identifying underserved - or ...
n May 17, 2013, Congressmen Brett S. Guthrie (R-KY), David Loebsack (D-IA), and Congresswoman Lynn Jenkins (R-KS) introduced H.R. 2041, a bill to modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to make clear appraisers of employee stock ownership plans (ESOPs) are not ERISA fiduciaries.
H.R. 2041 is the companion bill to S. 273 introduced by Senator Kelly Ayotte in February 2013. This bill is a response to the Department of Labor
SG&F, SES Advisors' sister law firm, is an annual Bronze sponsor of the New England chapter of The ESOP Association.
On March 29, the chapter presents a one day conference focusing on Human Resources topics for ESOP companies. SG&F, will facilitate one of the luncheon roundtable discussions.
For more information and to regsiter for the event, please visit the New England chapter web page.
Date: April 8-9, 2013Location: Woodcliff Hotel & Spa, Fairport, NY
The NJ/NY chapter of The ESOP Association is pleased to present its first CEO / CFO / HR Roundtable Event on April 8 (reception and dinner) and April 9. This conference offers a unique peer-to-peer networking and benchmarking experience for ESOP company executives. The Lieutenant Governor of the State of New York, Robert (Bob) J. Duffy, is scheduled to present the keynote address at the dinner on April 8.
As a Silver sponsor of ...
Date: April 3, 2013Location: Wyndham Garden Exton Valley Forge, Exton, PA
Please join SES Advisors for the annual spring ESOP seminar presented by the PA/DE chapter of The ESOP Association. This affordable, one-day conference will feature a legal and regulatory update, sessions on "pay or play" for ESOP companies and ESOP sustainability, and a Q&A profile of two successful local ESOP companies.
Brian Wurpts will present Sustainability Issues & Solutions for Mature ESOPs at 10:15 a.m.
For more information and to register, visit The ESOP ...