ESOP Services

GreatBanc Trust Company has established a national reputation as a highly skilled, independent trustee specializing in employee stock ownership plan (ESOP) fiduciary oversight. Representing plan participants and beneficiaries, we provide technically superior fiduciary services for qualified plans of companies facing an ownership transition, as well as for companies with ongoing ESOP needs.

In recent years, the conflict of interest of internal ESOP trustees in company stock transactions reinforces the need to retain an outside trustee. Because it is 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 conflict 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’s 16-member ESOP Committee. For large or complex transactions, the ESOP Committee typically meets once to approve the general structure and at least one more time to approve the transaction prior to closing. Votes are taken at all ESOP Committee meetings and minutes are kept, often by the attorney representing the trustee. ESOP transaction minutes are reviewed quarterly by the GreatBanc Trust Board of Directors.

As your trustee, GreatBanc Trust will:

  • Conduct thorough due diligence reviews with our legal and financial advisors
  • Produce the ESOP’s annual evaluation
  • Review plan documents for Employee Retirement Income Security Act (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
  • Review repurchase obligation studies and funding
  • Coordinate administration of your qualified plan with the participant recordkeeper and the company

For additional information regarding our ESOP services, please call Vaughn Gordy at (630) 810-4650, Steve Hartman at (212) 332-3255, Marilyn Marchetti at (630) 810-4525 or Karen Bonn at (212) 332-3251.


As a service to our clients, GreatBanc Trust compiles frequently-asked-questions, research and other helpful infomation about ESOPs. We invite you to browse the categories below. You may also print each of the informational sections, as well as the presentations and articles authored by our professional staff and industry partners.

The information below is not intended to be comprehensive, nor does GreatBanc Trust Company or our affiliates offer tax advice.