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Thought Leadership

Speaker, "ESOP Legal Update," Heart of America Chapter Spring Roundtables and Conference

Speaking Engagements

Alan Kandel will present "ESOP Legal Update," at the Heart of America Chapter Spring Roundtables and Conference on Thursday, March 16, 2023.

With the 50th Anniversary of ERISA approaching in 2024, this session will provide a “Legal Update” with a particular focus on the continuing and compelling need for Department of Labor (“DOL”) regulatory guidance regarding the meaning of the term “adequate consideration” which lies at the heart of almost every ESOP transaction. Among other things, we will explore a recent Petition filed by The ESOP Association under the Administrative Procedure Act calling for Notice and Comment Rulemaking by DOL regarding the definition of “adequate consideration” and will also address various aspects of the recently passed WORK Act, which, among other things, specifically directs the DOL to issue formal guidance regarding acceptable standards and procedures to be used in establishing good faith fair market value for shares of stock purchased by an ESOP. Our discussion will also bring into play the importance of recent court decisions and DOL Process Agreements which underscore the need for this guidance.

For more information, visit the event website.


Alan H. Kandel