We continue this year’s webcast offerings with three “one-hour” sessions covering a variety of topics presented by some of the most experienced, knowledgeable, and dynamic professionals in the ESOP community. You and your employee owners will want to take advantage of this convenient and economical way to learn. Here is the October Schedule:
§ 1. October 1, 2013 10 AM: Accounting 101 for ESOP companies... Presented by Bill Schramm and Pete Chudyk, Moloney & Novotny. This webinar will focus on the financial statement impact for partial and fully owned ESOP companies. It will detail the balance sheet and income statement impact, as well as the disclosure requirements for such companies. It will review the accounting issues relative to dividends, stock repurchases, inside and outside ESOP loans, as well as the differences in reporting for S corps versus C corps as well as how share valuation affect ESOP companies’ income statement and disclosure requirements. If you are a CFO, involved in any of the financial functions at your company, or just want to learn more about the unique accounting issues that ESOP’s present - attend this session. --- Bill is a CPA and specializes in auditing employee benefit plans including defined benefit, defined contribution, ESOP, and health and welfare plans. Pete is both an CPA and attorney and has more than 30 years of experience advising clients on accounting, business and tax issues. He also has expertise in evaluation and implementation of employee benefit packages and the design of ESOPs and other qualified and non-qualified retirement plans. Register Here
§ 2. October 9, 2013 10 AM: Key Roles in Your ESOP - The Fiduciary Issues... Presented by Sharon Hearn and Alex Mounts, Krieg Devault - In today's challenging economic environment, members of a company's Board of Directors, corporate officers, ESOP trustees and ESOP committee members need to make sure that they properly understand their roles and responsibilities. This session will focus on the roles of the Board, corporate officers, ESOP trustees and committee members in corporate governance, with a specific focus on corporate fiduciary duties versus ERISA fiduciary duties. This session will help you assess whether those assigned at your company are prepared and knowledgeable about the liabilities. How are you organized to cover these roles? Are they covered by individuals or committees? What is required by the current law? Advantages and disadvantages of internal and external administration and/or trustees. Steps to take to reduce the likelihood of litigation. This session is designed for Board members, corporate officers, internal and external trustees, ESOP committee members and other ESOP fiduciaries.--- Sharon & Alex are partners with the law firm Krieg DeVault LLP. Sharon chairs the firm’s Employee Benefits & Executive Compensation Practice Group. She works with all issues surrounding ESOPs and their sponsors and fiduciaries, including design and implementation transactions, fiduciary issues, and plan administration issues including correction of operational failures. Alex works primarily with employee stock ownership (ESOP) and executive compensation plans. He spends a significant amount of his time working with companies, trustees, lenders and sellers on all issues surrounding ESOPs, including design and implementation. Register Here
§ 3. October 16, 2013 10 AM: ESOP’s – Just another Benefit? How Other Employee Benefits Can Compliment an ESOP... Presented by Daniel Riemenschneider, Bruner Cox –Your total Benefits and Rewards package is an important expenditure for your business. This session will explore the options when structuring a comprehensive benefit and compensation plan for your company. We will examine the tax issues with Employee Benefit Plans in general as they are related to either an S-Corp or C-Corp ESOP. We will take a look at the elements of your overall employee benefits program and their fit with the ESOP, including: retirement options, health and welfare plans, NQDC Plans, Insurance, Education/Tuition assistance, and others. If you work in the HR or Financial areas of your company, or are involved in your ESOP, attend this session. --- Dan, a CPA and CMA joined Bruner-Cox LLP in 2008. Dan focuses on tax compliance and planning for corporations, partnerships, limited liability companies, tax exempt organizations and individuals. He has extensive experience with tax issues related to employee benefits, retirement plans and international tax. He is also a member of The Institute of Certified Management Accountants and The Institute of Management Accountants. Dan is a member and past chairman of The University of Akron School of Accountancy Executive Advisory Board and past president of the Employee Benefit Council of Northeast Ohio. Register Here
Registration is only $25 for members of Ohio's Employee-Owned Network; $50 non-members. Registrants will be invoiced by the OEOC.
To answer any questions you may have, or for further information concerning these events please contact Jay Simecek or Chris Cooper at the Ohio Employee Ownership Center 330-672-3028 .