ESOP Services - Employee Ownership
News & Updates
National actuarial and employee benefits firm Swerdlin & Company promotes Lee Swerdlin to President and COO.
Swerdlin has a national presence in the ESOP arena. With close to 100 ESOPs and clients in 31 states, Swerdlin is one of the largest providers of ESOP administration and recordkeeping. Our ESOP services team is well regarded among industry leaders. Susan Petrirena, Team Leader of our ESOP practice, is a member of the Administration Committee of the ESOP Association. Connie Woodmansee, a member of our ESOP team, is an officer of The New South Chapter of the ESOP Association. We are also associated with the National Center for Employee Ownership (NCEO). We are actively involved in these organizations and members of our ESOP team are often speakers at their conferences.
We provide comprehensive services for ESOPs including education, communication, plan design, repurchase liability studies, consulting and ongoing administration. Full service recordkeeping and administration can include full integration with our call center and internet services, especially for KSOPs. Swerdlin works with a team of service providers including valuation firms, trustees, attorneys, and accountants. With our team approach, everyone is in the "loop" so nothing falls through the cracks and there is no duplication of services that could result in higher fees to the clients.
Our ESOP services include:
- Full service recordkeeping and administration;
- Feasibility studies;
- Repurchase Obligation Analysis/Studies;
- Compliance services; and
- Internet services and in-house call center.
Our full service recordkeeping and administration includes an annual administration report summarizing the annual financial activity and compliance testing. Also included in the annual report:
- Compliance testing, including:
- Anti-abuse testing for Subchapter S ESOPs [IRC Section 409(p)]; and
- Determine and monitor eligibility of selling shareholders [IRC Section 1042].
- Calculations:
- ESOP diversification calculations [IRC Section 401(a)(28)] ;
- ESOP share-release calculations [ERISA Reg. Section 2550.408b-3] ; and
- Others as they apply.
- Customized participant statements.