Employee stock ownership plans: who benefits most in closely held companies? : Report to the Committee on Finance, United States Senate
United States General Accounting Office, 1980 - Business & Economics - 52 pages
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FAIR VALUES NOT ASSURED FOR TRANSACTIONS
OTHER ASPECTS OF ESOPS THAT ADVERSELY
3 other sections not shown
13 closely held applied approach assets assure board of directors Calculated stock values capitalized earnings closely held companies closely held employer closely-held companies we reviewed companies whose ESOPs computed Congress criteria defined contribution plans develop discount employee motivation Employee Stock Ownership ESOP committee ESOP operations ESOP participants ESOP purposes ESOP regulations ESOP transactions ESOPs we reviewed fair market value faith determination guidance guidelines for valuing held employer stock implementing independence required individual account plans Internal Revenue Code Internal Revenue Service key company Labor and Treasury motivation and productivity party-in-interest pass voting rights plan fiduciaries plan participants ployer price/earnings multiple price/earnings ratio problems publicly traded companies put option qualifying employer securities recognized market relevant factors repurchase Revenue Ruling 59-60 scrutiny of ESOP Secretaries of Labor sold or contributed special scrutiny stock bonus stock of closely Stock Ownership Plans tion transactions involving Treasury Stock value of stock valuing stock