Total Rewards: What’s All This Talk About ESOPs?
A DISCUSSION AND OVERVIEW OF HOW AN EMPLOYEE STOCK OWNERSHIP PLAN WORKS AND
WHETHER AN ESOP WOULD MAKE SENSE FOR YOUR COMPANY
Date: Thursday, March 1, 2018
An Employee Stock Ownership Plan (ESOP) is a tax qualified retirement plan that is designed to hold stock of the sponsoring company. ESOPs don’t make sense for every company. However, when the circumstances are right, they can have wonderful results and create substantial tax savings. More and more companies are exploring whether an ESOP makes sense for them. This session will provide an overview of Employee Stock Ownership Plans and how such a plan may benefit your company.
· Overview of how ESOPs work. Tax and corporate benefits associated with ESOPs.
· Attributes a Company should possess to make an ESOP feasible and successful.
· Benefits and competitive advantage of ESOPs companies.
· Common issues/goals that companies typically face that result in their decision to implement an ESOP.
· Story from an ESOP company and the decision process they went through that led to implementing an ESOP.
Anyone exploring ownership changes in their organization or interested in learning more about how their company or clients could benefit from the use of an ESOP should attend this event.
Carl Grassi, the Chairman of McDonald Hopkins
Nationally-known expert in ESOPs
Carl became firm chairman in 2016 after serving as firm president for nine years. He is corporate counsel and business advisor to a number of middle-market and growth companies. Carl has extensive experience assisting clients in areas of complex mergers and acquisitions, choice of entity planning, business succession planning, financing and structuring ESOPs, executive compensation and tax planning, creation of family limited partnerships, formation and use of limited liability companies, and IRS controversies.
Carl authors the Small Business “Tax Tips” column for Crain’s Cleveland Business and has written other articles for national publications. He frequently speaks on business planning related topics for business owners, accountants and lawyers.
Carl earned a J.D. from Cleveland-Marshall College of Law in 1984. He received a B.S.B.A. from John Carroll University in 1981.
Mike Metz, CFO of MarshBerry
Mike Metz joined Marsh, Berry, and Company Inc., (“MarshBerry”) in 2014 as the Chief Financial Officer responsible for providing leadership and management to MarshBerry’s shared services divisions. Mike has over 15 years of leadership experience in financial and operational roles. Prior to joining MarshBerry, Mike was Chief Financial Officer at Lexi-Comp, Inc.
Mike graduated from John Carroll University with a degree in Accounting, and received his MBA from John Carroll University. Mike is a CPA (inactive), and currently maintains the Series 27 FINRA Registration through MarshBerry Capital, Inc., the affiliated FINRA-registered Broker/Dealer of Marsh, Berry & Co., Inc.
John Wirtshafter, Member of McDonald Hopkins
John has extensive experience assisting mid-sized and Fortune 500 companies with employee benefits and executive compensation issues and opportunities, including benefits issues arising in mergers and acquisitions, IPOs and bankruptcies, and the design and implementation of qualified and non-qualified retirement and benefits programs including ESOPs, defined benefit and defined contribution plans, cash balance programs, non-qualified deferred compensation plans, stock option and other equity participation programs, VEBAs and SERPs. John regularly consults with employers contributing to multiemployer pension and welfare plans with issues relating to transactions, bankruptcies, controlled group liability, and strategic planning for reducing and combating claims made for withdrawal liability for partial or complete withdrawals.
For the past four years, John was the national President of one of the largest U.S. employee benefits professional organizations, the Worldwide Employee Benefits Network. John frequently speaks on various employee benefits topics and has been quoted and interviewed in numerous magazines and newspapers regionally and nationally.
John earned his J.D. from Case Western Reserve University School of Law in 1984. He received a B.S., cum laude, from Indiana University in 1981.
This activity has been approved for 1 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®)
This activity will be submitted for Recertification Credit Hours through SHRM.
Registration & Continental Breakfast: 7:30 - 8:00 AM
Presentation & Discussion: 8:00 AM - 9:30 AM
$30 for Cleveland SHRM members
$40 for Guests/Nonmembers
$15 for students and members in transition
REASONABLE ACCOMMODATION POLICY
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