Blue Ridge ESOP Associates Industry News What is diversification in an ESOP and what are your responsibilities as a Plan Sponsor?

Tom Roback of Blue Ridge ESOP Associates is a member of XPX Maryland


Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on print

Internal Revenue Code Section 401(a)(28) allows employees to diversify a portion of their stock once they meet certain eligibility requirements. There are specific age and service requirements outlined by the IRS to determine who is a Qualified Participant, however your plan may allow for rules that are less restrictive.

Statutory Requirements:  Click here to continue reading…

Updated: January 4th, 2022