ESOPs – AN INNOVATIVE STRATEGY FOR CLOSELY HELD COMPANIES
Verisight works with business owners to understand your goals. With a thorough understanding of your objectives, we offer innovative strategies for business owners who are looking for pre-retirement diversification of ownership in the business or considering the transfer of ownership to employees as a succession planning technique.
Understanding the challenges and benefits of ESOPs. Since an ESOP can be used to satisfy many different objectives, it is essential to work with a provider who understands the alternatives and their subtleties. Our experienced consultants who work exclusively with ESOPs have in-depth knowledge and tax and accounting experience to help you ask the right questions and understand the benefits and intricacies associated with an ESOP.
Plan design and implementation. If you decide that an ESOP is right for your company and employee culture, our consultants will help you design and implement a plan that meets your unique goals and objectives.
Ongoing administration and advisory services. Our administration services are comprehensive and supported by a two-tier review system that is unique to the industry.
Our services include:
• Design and implementation
• Annual recordkeeping and reporting
• Plan documents
• Repurchase liability studies
• Feasibility studies
• Employee communications