ESOP Fiduciary Services

In recent years, the conflicts of interest for internal ESOP trustees in company stock transactions reinforces the need to retain an outside trustee. Because we are specifically focused, experienced and independent, our professional oversight helps solidify all aspects of an ESOP.

By engaging us as your independent trustee, you will partner with a team of professionals dedicated to addressing the changing network of rules, regulations, precedents and standards that govern fiduciary behavior.

Our team of seasoned professionals offers extensive and diverse experience in ESOP analysis and compliance. Our experience ensures that the complexity and potential conflicts of interest inherent in a transaction involving employer securities will be handled in a manner that is objective, thoroughly documented and compliant with a fiduciary’s standard of prudence and care. Our process is designed to meet expectations by both the United States Department of Labor and the Internal Revenue Service.

The breadth of our fiduciary experience extends to purchases and sales of stock held in leveraged and non-leveraged ESOPs, corporate restructurings, Section 1042 transactions, plan terminations, and ongoing trustee, investment management, and custodial services for all types of qualified plans that hold employer securities.

All fiduciary decisions are made by a quorum of GreatBanc Trust Company’s ESOP Committee. Votes are taken at all ESOP Committee meetings and minutes are kept.

As your trustee, GreatBanc Trust Company will:

  • Produce the ESOP’s annual valuation
  • Review plan documents for ERISA compliance and administrative efficiencies
  • Maintain state-of-the-art operational systems, and establish comprehensive policies and procedures to efficiently handle all matters of trust administration
  • Conduct participant pass-through votes on a timely and confidential basis
  • Coordinate administration of your qualified plan with the participant record-keeper and the company

Put the Power of GreatBanc to Work for You

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