ESOP trustees are required by law to set the employer stock price at least annually which in turn allows the ESOP’s third-party administrator to perform the mandatory annual accounting and testing procedures that culminate in the issuance of annual ESOP participant statements. An ESOP participant statement includes the participant’s account balance as of the end of the plan year, based on the new stock price. The trustee sets the share price based on the fair market value of the employer stock determined by an independent third-party valuation firm... Read more about this article>>
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