ESOP Trustee Services
Unleash Your Employee Ownership Potential
No one knows ESOPs better than GreatBanc. We’ve guided more companies through the employee ownership journey than any other trustee in the business. Our best practices and protocols have been refined over 35+ years and more than 1,000 successful ESOP transactions. Harness the full power of employee ownership with access to the industry’s leading ESOP plan architects and prudent fiduciary oversight.
Transactional ESOP Trustee
For companies looking to establish their ESOP or sell shares to their existing trust.
Ongoing ESOP Trustee
For ESOP companies looking for management and administration of their existing plan.
Transactional ESOP Trustee Services
Your ESOP Transaction Team
To make sure you have the best resources at your disposal throughout the process, we build a transaction team tailored to your organization, industry, and deal structure. Each person brings a unique skillset from our specialized internal groups. In most cases, members of your transaction team will also be part of your ongoing service team once the transaction is complete. This means your contact going forward will already know you, your team, and your company, inside and out.
Client Service Group
Our client service group is made up of our ESOP rockstars that specialize in client management, ESOP strategy, and plan administration. As a GreatBanc client, you’ll be assigned a dynamic duo that will be your go-to resource for day-to-day ESOP needs and inquiries; they’ll get to know you, your team, your company, and your goals—inside and out.
Fiduciary Committee
Our Fiduciary Committee brings a deeper bench of experience and perspectives to your ESOP. Comprised of our top ESOP strategists and experts from our other specialized teams, this group helps ensure that we’re making good strategic decisions and that we fulfill our ERISA fiduciary duty.
Valuation Review Group
Our valuation review group specializes in the assessment of valuations, fairness opinions, and appraisal methodology. They work closely with our third-party valuation advisors to ensure best practice is adhered to.
Compliance Group
The GreatBanc Compliance Group is responsible for the review of trust documentation to ensure it aligns with applicable laws, regulations, and processes. Comprised of attorneys that specialize in retirement plans, this group is also responsible approving and assessing our external valuation advisors.
ESOP Transaction Trustee Activities & Responsibilities
So what does your GreatBanc team actually do?
- Fiduciary Oversight
Evaluate the proposed ESOP transaction design to ensure it is prudent and aligns with participants’ interests
- Advisor Engagement
Select and retain independent legal and valuation experts with necessary qualifications and relevant experience to assist in analysis of the transaction.
- Due Diligence
Meet with management, tour facilities, analyze company financials, industry, economic data; performing risk assessment of management and operations.
- Valuation Approval
Ensure the stock price paid by the ESOP satisfies “adequate consideration” requirements.
- Transaction Management
Coordinate the transaction process and negotiating deal terms.
- Compliance Oversight
Ensure the transaction complies with ERISA, tax regulations, and other applicable statutes.
Once the transaction is complete, we shift our focus to ongoing plan administration and fiduciary oversight.
Ongoing ESOP Trustee Services
Your Support Team
To ensure your ESOP operations run smoothly, we utilize a shared support team model that allows you to build a close working relationship with your assigned staff while tapping into the vast expertise and experience of the larger GreatBanc team. Your Client Service Team is supported by groups of ESOP specialists who perform a variety of activities and assessments throughout the annual ESOP lifecycle.
Client Service Group
Our client service group is made up of our ESOP rockstars that specialize in client management, ESOP strategy, and plan administration. As a GreatBanc client, you’ll be assigned a dynamic duo that will be your go-to resource for day-to-day ESOP needs and inquiries; they’ll get to know you, your team, your company, and your goals—inside and out.
Fiduciary Committee
Our Fiduciary Committee brings a deeper bench of experience and perspectives to your ESOP. Comprised of our top ESOP strategists and experts from our other specialized teams, this group helps ensure that we’re making good strategic decisions and that we fulfill our ERISA fiduciary duty.
Compliance Group
The GreatBanc Compliance Group is responsible for the review of trust documentation to ensure it aligns with applicable laws, regulations, and processes. Comprised of attorneys that specialize in retirement plans, this group is also responsible approving and assessing our external valuation advisors.
Trust Operations Group
Our Trust Operations Group is charged with handling the day-to-day transactional trust activities of GreatBanc clients, including distributions, statement preparation, and more.
Ongoing ESOP Trustee Activities
In an existing ESOP, the trustee’s role is focused on oversight and plan administration. These responsibilities often include the following activities:
- Annual Stock Valuation
Determining company stock price on a regular basis, ensuring it reflects the company’s current financial performance.
- Fiduciary Oversight
Acting as fiduciary and voting shareholder, making decisions exclusively in the interest of plan participants.
- Monitoring Plan Operations
Ensuring the ESOP continues to comply with ERISA, tax regulations, and the plan’s governing documents.
- Advisor Engagement
Collaborating with independent legal, financial, and administrative experts to address ongoing plan needs.
- Participant Communication
Supporting company efforts to educate employees about their rights and benefits under the ESOP.
Ready to take the next step on your employee ownership journey?