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Pension & Employee Benefits

Articles

Step-by-step guide to setting up an ESOP
There are many things to consider before you set up an ESOP. Here are seven steps to take to help you determine whether an ESOP is right for you.

6 ways marketing can help you recruit rock stars
Developing and implementing a solid recruiting/retention marketing strategy takes deliberate effort, but the sooner you start the sooner you will begin to see payoffs.

Refresh your leaders with sabbaticals [MNCPA]
Increasing numbers of employers are offering sabbatical leave to combat burnout and inspire employee retention. Read about the experiences of MNCPA members who have taken sabbaticals.

Benefit corporations and employee ownership: A legal and ownership structure for the future
There is a way that a company can maximize its sustainability, profitability and socially conscious structure simultaneously: adopt the legal status of a benefit corporation and become employee-owned, either in whole or in part.

3 questions every business owner needs to address in their succession plan
When it comes to succession planning, most business owners probably realize there are many important factors at play. But what exactly do they need to address during the process?

The pros and cons of ESOPs: Weighing your options
When it comes to choosing a business transition strategy, owners have a lot to think about. For those considering an employee stock ownership plan, it is important to begin with a basic understanding of the pros and cons of an ESOP.

Breaking myths about neurodiversity
Neurodiversity has always been around, but we’re only just starting to realize how we can support neurodiverse people and take advantage of their skills.

Who runs a company owned by an Employee Stock Ownership Plan (ESOP)?
An ESOP operates as a trust, which has two separate features of ownership like any other business. The difference is who is responsible for these features.

MNCPA Employee Benefit Plan Task Force findings [MNCPA]
Reporting investments and fair value disclosures prove to be an ongoing challenge.

MNCEO offers 'lunch and learn' events to highlight employee ownership options
There are 52,000 business owners in Minnesota who will be transitioning out of their businesses in the next few years. Help your clients develop a transition plan.

Role of the employee stock ownership plan trustee
Independent or not, a trustee’s duties are the same. And as a fiduciary, they are required to act solely in the best interests of the participants and their beneficiaries.

Your client is interested in an ESOP: Why do they need a feasibility study?
An ESOP can be a great way for a business owner to transition their business and give back to their employees, but it’s not ideal for everyone. Before you move forward, it’s wise to crunch some numbers to make sure it is a viable option.

What you should know about financing an ESOP
Forward-thinking business owners want to create a succession plan that preserves their legacy and benefits the organization.

Business as unusual
Employers are faced with changing traditional ways of addressing employment issues and short-term solutions are not likely to help.

The importance of employer branding [MNCPA]
A dive into what an employer brand is, how to build your employer branding strategy and how to promote it to attract high-quality candidates.

Add HRAs to your client’s tax planning toolkit
With a wage war in many sectors, what more can employers provide to tip the balance for staff retention?

Legacy and groceries:
After you retire, do you plan to eat or to buy groceries? If you answered yes, you may want to consider an ESOP.

Is an ESOP the right exit strategy for you?
Though ESOPs can be relatively complex, they are often an excellent succession tool for a seller that can provide significant tax and intangible benefits.

An overview of Medicare and its application to choice-of-entity planning considerations [MNCPA]
With new businesses forming in record numbers, the choice of entity decision-making process should consider Medicare in addition to all other factors.

Exit planning strategies for business owners [MNCPA]
As baby boomers approach retirement age, the Minnesota business landscape faces the exit of a significant share of the workforce. But there is a beacon of light.

Get ahead of the ‘great resignation’ [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.

An underused business succession tool: The WOC
A worker-owned cooperative is a business enterprise jointly owned and controlled by its workers under a participative governance model, with each member having one vote.

The 10 biggest myths (missed opportunities) with the Employee Retention Credit
Many CPAs are not fully understanding the nuances and complexities of this expanded law.

Take care of yourself, each other [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.

Considerations for financing ESOPs — a banking perspective
Owners and trusted advisers should review items like motivation, finances, culture, legacy, community impact, tax and bank issues.

As organizations move back to work, what does ‘the new normal’ look like? [MNCPA]
The pandemic required employers to rethink office and work arrangements. Employers are also were faced with demographic, economic, cultural and technological changes.

Can we have the best of both worlds? [MNCPA]
Hybrid work may be a win-win for employees and employers.

ESOPs: It’s not always about the money
There are also many ways in which an ESOP can meet the nonfinancial goals of a business owner.

The FAQs of an ESOP
An ESOP might be an appealing option for your business or for a client. Find out more.

American Rescue Plan and employee-related issues
On March 12, 2021, the American Rescue Plan Act (ARPA) of 2021 was signed into law creating a $1.9 trillion stimulus package to address continuing needs related to the COVID-19 pandemic.

Does your employee handbook create an employee contract?
How a recent court case sheds a light on paying out PTO.

The hidden gems of the new COVID-19 tax law [MNCPA]
It seems that with all new tax law, it boils down to some basic chunks of data: The headliner provisions (we’ve all heard and read about), the extenders, the esoteric provisions and everything else.

7 common issues plaguing employee benefit plans [MNCPA]
To help you better understand the issues that often plague employee benefit plans, here are the most common errors we encountered during this past audit season.

Improvement seen in latest employee benefit plan audits [MNCPA]
The MNCPA Employee Benefit Plan Task Force last year received 25 reports consisting of 401(k), 403(b), defined benefit, and health and welfare plans for both single and multi-employer plans.

The SECURE Act: How retirement planning has changed for every taxpayer
The acceleration of distributions from tax-deferred retirement accounts under the SECURE Act, an acronym for “Setting Every Community Up for Retirement Enhancement,” provides a revenue offset to the massive appropriations bill signed in December 2019.

Bye, bye, bye: Appropriations law repeals several taxes, including parking tax for nonprofits
The new law includes extensions for several expiring or expired tax provisions, repeals three major taxes imposed under the Patient Protection and Affordable Care Act, among other changes.

What to know about FLSA changes
On Sept. 24, the DOL announced its final rule on raising the salary threshold needed to satisfy the executive, administrative and professional exemptions to the FLSA.

What to know about unclaimed property
Unclaimed property laws can be confusing and can create traps for the uninformed. Under Minnesota’s law, a business that fails to report in a timely manner and remit unclaimed property may be hit with severe penalties and interest. 

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