What is an Employee Stock Ownership Plan (ESOP), and how can it benefit business owners and their employees?

In this episode, Marshall Dodge, Director of Retirement Plans, sits down with Pete Shuler of Blue Ridge to explore how ESOPs work and why more business owners may consider employee ownership as part of their business succession strategy.

From potential tax advantages and ownership transitions to employee retirement benefits, Pete breaks down the opportunities, costs, and considerations involved in establishing an ESOP. They also discuss what makes a company a good candidate for employee ownership, how ESOP transactions are structured, and how these plans can work alongside traditional 401(k) retirement plans.

Whether you're a business owner exploring succession planning options or an employer looking to better understand employee ownership, this conversation offers valuable insights into the role ESOPs can play in long-term business and retirement planning.