Numbers can be powerful recall aids. Take 409 for example. Most Americans think of the household cleaner Formula 409. Invented in 1957 it was the 409th compound tested by the creators (talk about perseverance). This family of products is now found under sinks and counters throughout the country.
Posts tagged ‘Employee Stock Ownership Plans’
According to experts, the universe is 13.8 billion years old. The 40 years that Employee Stock Ownership Plans (ESOPs) have existed is a mere blink of the eye (or less) compared to the age of the universe. That does not diminish their importance for the 10.3 million Americans that are participants in the plans1.
ESOPs were enabled in the Employee Retirement Income Security Act (ERISA) of 1974. There were a handful of employee stock retirement plans that existed prior to that through exemptions granted by the Internal Revenue Service, but they were not considered mainstream. Although 40 years is insignificant in relation to the age of the universe, it is helpful to put it in context to the changes that have occurred in society. Read more
It’s January. A new year. A time of resolutions. School resumes. Football continues. The Grammys. Weather so cold my Labrador Retriever goes outside in a jacket (here in Iowa). Juan Pablo is The Bachelor. Retirement Readiness. Wait. What? That’s right. Retirement readiness. We all want to retire one day. So let’s be ready. Read more
To say that it was cold is a serious understatement. On January 6th the temperature in Des Moines fell to a minus 12 degrees Fahrenheit. The wind chill was more than forty degrees below zero. Schools closed and people hunkered down with a roaring fire and hot chocolate (and made disparaging comments about people in warm climates posting pictures and comments on Facebook).
It hadn’t been this cold since 1996 and it got me to thinking. I feel warmer climates calling to me in retirement. Given my age, if we go another 18 years before it gets this cold again this may be the coldest day of the rest of my life. Read more
October is a busy month. It’s National Book Month, National Cyber Security Awareness Month, Domestic Violence Awareness Month and National Employee Ownership Month, to name just a few of the topics that are commemorated. It’s the last of these that is the most interesting to me in my role as an Employee Stock Ownership Plan (ESOP) consultant.
If you’ve read my past blogs, you’ll have noted that there are many advantages ESOPs bring to the selling business owners, the company and the employees. So, why do we need a month to celebrate (other than the fact that everyone likes cake and ice cream)? Read more