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What is the Status of the Outstanding Pro-ESOP Legislation?

  
  
  

The Employee Ownership Blog defines 30/100 as a target to pass Pro-ESOP Legislation. The 30 represents the number of the 41 members of the House Committee on Ways and Means that need to support a pro-ESOP bill. The 100 represents the number of non-Ways and Mean members that need to co-sponsor a pro-ESOP bill.

It cites H.R. 5207: Employee Stock Ownership Plan Promotion and Improvement Act of 2010, H.R. 3586: S Corporation ESOP Promotion and Expansion Act of 2009, and H. Con. Res. 204: Expressing continued support for employee stock ownership plans as three pro-ESOP bills currently pending in the House Committee on Ways and Means and provides an update on the current level of support:

Right now, nine members of Ways and Means support one, or two, of the three pieces of legislation mentioned above. Twenty-one more co-sponsors are needed...

Right now, 34 members of the House co-sponsor one, or two, of the three pieces of legislation mentioned above. Sixty-six more are needed.

So the 30/100 is right now 21/66. Can the ESOP community reach these goals before Congress quits in the fourth quarter of this year? We have before.

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2012 IRS Pension Plan Limits

401(k) Deferral Limit - $17,000

Annual Additions Limit - $50,000

Maximum Compensation Limit - $250,000

Catch-Up Contribution Limit - $5,500

Highly Compensated Employee - $115,000

ESOP 5-Year Distribution Threshold - $1,015,000

ESOP Additional Year Threshold - $200,000

2012 Pension Plan Limits

1989 - 2012 Plan Limits