The September 28, 2007 Employee Ownership Update is online, and discusses the following items:

• New Study Documents ESOP Account Balances
  
• SEC Proposes Significant Changes to Rule 144
  
• New Study Reports on Growth of Employee Ownership in Europe
  
• Nominate Yourself for the NCEO Board
  

The NCEO analyzed the IRS Forms 5500 for ESOP companies and found that the average ESOP account balance is approximately $46,000. While an average 401(k) balance is slightly higher ($58,000), the average is skewed toward higher earners and consists mainly of contributions made by the employee. Since an ESOP average balance is generally representative of the entire employee population and consists mainly of employer contributions, and the fact that most ESOP companies also provide 401(k) plans, the Update concludes that "ESOP participants receive a much larger benefit from their employers than non-ESOP participants."

The Update also discusses how the SEC is proposing major changes to Rule 144 under the Securities Act of 1933, including "shortening from one year to six months the minimum holding period for resales of "restricted securities" of "reporting companies."" The Update also reports that employee ownership in Europe is growing.