2020-05-19 19:13Blog post

Fiduciary Process for the Annual Update to the Share Value

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>>

By Frank “Chip” Brown, TI-TRUST, Inc.

https://www.ti-trust.com/wp-content/uploads/2020/05/Fiduciary-Process-for-the-Annual-Update-to-the-Share-Value_Brown.pdf



About TI-TRUST, Inc.

TI-TRUST is a leading provider of fiduciary services for Employee Benefits, Personal Trust, and Farm Services. With solid core values and decades of proven commitment to high ethical standards, our experienced team of financial, legal, and administrative professionals is dedicated to earning and maintaining the trust and confidence of our clients. Founded more than sixty years ago in Quincy, Illinois, today, we have locations in five states and hold more than $10 billion in managed assets for individuals and institutions nationwide.

Contacts

Dawn Goestenkors
Executive Vice President, Employee Benefits
Dawn Goestenkors