Responding as an ESOP Company in Volatile Times

Join McDermott’s team of ESOPs specialists as they provide a short summary of certain ESOP focused considerations relating to the Payroll Protection Program Loans offered under the SBA (CARES Act) and lead an in-depth, focused discussion around ESOP valuation issues brought to the forefront by the tightening grip of COVID-19 concerns and economic pressures created by the pandemic.

This 45-minute webinar is designed to provide guidance that is both practical and accessible for ESOP organizations, as well as, trustees and fiduciaries. Our presenters will review select provisions included in the recent wave of Federal legislation as it impacts ESOP-owned companies, as well as, discuss evolving alternative practices to be considered with respect to the ESOP valuation process(es), each viewed against the backdrop of extraordinarily volatile economic conditions.

Attendees will come away with clarity around:

• ESOP annual reporting requirements
• Plan considerations related to the interim valuation process (if any)
• Choosing a date and format for interim valuation
• Contingencies around the anticipated ebb and flow of pandemic containment
• Participant communications

If you have any questions, please contact Chris McGoldrick.