To the rest of the country it may seem like strange bedfellows: a state in the heartland of America on a first name basis with the world’s second largest economy. But for the past 30 years that has been the case between Iowa and China.
Since 1983, Iowa has been in a formal Sister State relationship with Hebei province, China.
While vastly different in language, culture and size—Hebei is 24 times bigger than Iowa in terms of population (72 million vs. 3 million)— over the years the cooperative agreement has fostered friendship, understanding and trust as well as exchanges in education, culture and, importantly, trade. Read more
Let’s face it, Americans love top 10 lists. David Letterman includes one in every episode of the show, and if you Google top 10 lists you will find an array of results that range from the predictable to the just plain strange.
A recent search result included:
- 10 absurd trademark claims
- 10 video game characters with real-life prototypes
- 10 competitive eating achievements NOT to be tried at home
I recently put together a top 10 list (of sorts) for Employee Stock Ownership Plans (ESOPs). It outlines in ten steps the activities that need to be completed to put a plan in place.
The ten steps are:
(1) Engage your ESOP consultant
(2) Conduct an ESOP feasibility analysis
For some financial professionals, changes to Section 408(b)(2) of ERISA may have seemed like a one and done effort—or even something someone else had to worry about. But, the story doesn’t end there.
The Department of Labor (DOL) has already added a question to their audit checklist asking plan sponsors for all their 408(b)(2) disclosures. This likely means we’ll be dealing with the ramifications for a long time.
So, what can financial professionals do to prepare for (and make the best of) this on-going requirement? Read more