Why Kreischer Miller?
Deep ESOP Implementation and Management Expertise
As the largest accounting firm in Philadelphia and one of the largest in the state of Pennsylvania specializing in working with Employee Stock Ownership Plan (ESOP) companies, Kreischer Miller’s rapidly growing ESOP practice has deep experience in the accounting, tax, and regulatory complexities of ESOP plans, including leveraged plans, share allocation, and the valuation process.
Maximize the Benefits Your Company Derives from an ESOP
An ESOP is a qualified retirement plan that is a valuable tool as part of a shareholder transition strategy. ESOP plans have the following advantages:
- A transaction mechanism as part of private company shareholders’ exit and transition strategy
- A way for the company culture and legacy to endure because ownership remains in the hands of the people who have worked to build it
- Significant tax incentives for the exiting shareholders and the company - both before and after the company becomes an ESOP
- Motivation and rewards to employees over a long-term time horizon
As an exiting owner, an ESOP plan can help you diversify your assets, create liquidity, and realize tax benefits. It also allows you to control the timing of your succession and transfer and stay involved in the business post-retirement, if you choose.
At the same time, ESOP plans provide a powerful incentive for employees by giving them an opportunity to share in the company’s growth on a tax-deferred basis. Studies have shown that ESOPs have a tangible effect on employee morale and productivity, turnover, and company performance.
Whether you’re considering a private company ESOP or you’ve already established your ESOP, we understand the complex challenges and have the knowledge and resources to help you maximize the benefits of utilizing an ESOP as a private company transfer strategy.
We invite you to contact us to discuss your private company's ESOP needs and discover how we can help.
Our Specialized Services for ESOPs
- Assistance with determining whether an ESOP plan is right for your company
- Plan design, structure, and set up
- Compliance with Section 409(p), DOL, and ERISA requirements
- Company and ESOP plan audits and tax compliance
- Tax transaction planning
- Financial due diligence, including Quality of Earnings analysis
- Compliance assistance for the selling shareholder
- Coordination with valuation firms and other professional advisors to the ESOP
- Coordination with other company retirement plans and additional employee benefit plan services
- Repurchase obligation guidance
- Evaluation of liquidity alternatives
- Redemption planning
- Estate planning
- Executive search services for leadership and management team successors