ESOP
Client’s ex works for a firm with a top-notch ESOP plan. Major contributions are made each year. However, during the year preceding the divorce (2023), a statement shows absolutely no contributions to the ESOP, as well as the beginning value (1/1) identical to the 12/31 value. Can an employee request that no contributions be made and how do we get the valuation of the shares when the company is a private company?
Permalink Submitted by Alan - IRA critic on Wed, 2024-01-10 16:06
ESOPs are qualified plans and must treat all employees equally with respect to contributions. The divorce attorney should know how to obtain account values needed for a settlement.