Fountain Valley, CA, April 17, 2024 – The Menke Group, a leading full-service ESOP provider, announced that AV Construction, a renowned healthcare development firm based in Fountain Valley, has become 100 percent employee owned with the help of The Menke Group. The Menke Group will assist AV Construction to extend ownership of the company to…
View detals
CONTRIBUTION AND ALLOCATION LIMITATIONS FOR PLAN YEARS ENDING IN 2024 Date: April 2024 C CORPORATION CONTRIBUTION LIMITATIONS (Sec. 404 of the Code): Example: (The Sec. 404 limit is calculated for all employer plans in the aggregate.) Sec. 404 Gross Compensation 1 $345,000.00 Less Sec. 401(k) Salary Reduction 0.00 Less Sec. 125 Salary Reduction 0.00 Net…
View detalsListed below are the planned IRS (Internal Revenue Service) cost-of-living Adjustments for 2024. This is a preliminary list applicable to most employer-sponsored retirement plans and the wage base for Social Security. The remainder of the health and welfare plan limits for 2024 are expected to be released by the IRS in the near term. RETIREMENT…
View detals
San Mateo, CA, April 2, 2024 – The Menke Group, a leading full-service ESOP provider, announced that Matrix HG, a Concord-based innovator serving the San Francisco Bay Area with commercial HVAC systems, has become 100 percent employee owned with the help of The Menke Group. The Menke Group will assist Matrix HG to extend ownership…
View detals
In 2000, Jody Zepnick, founder of Zepnick Solutions, had an idea. He wanted to create a business that would not only serve a growing niche — manufacturing automation — but would also be a place that people want to work for. Fast forward 24 years, Zepnick has provided engineering solutions and equipment for automation to…
View detalsTo register for “How Business Owners, Management, and Employees Can Benefit from ESOPs in 2024!” please fill out the form below. After submitting, you will receive an email confirmation with instructions. Tuesday, April 23rd, 2024 — 1:00PM-2:30 PM EASTERN
View detals
San Mateo, CA, March 12, 2024 – The Menke Group, a leading full-service ESOP provider, announced that Brown Construction Incorporated, one of the largest general contractors in the greater Sacramento area and ENR Top 400 general contractor, has become 100% employee-owned with the help of The Menke Group. The Menke Group enabled Brown Construction to…
View detals
It’s not every day that the Wall Street Journal features one of your clients. The end of 2023 saw that spotlight shine on Menke client Hyperion Technology Group touting it as a success story in an article about Mississippi and the American South. Competitive salaries and benefits burnish Hyperion’s reputation and standing, CEO Geoffrey Carter…
View detals
As more accountants retire from the profession, they are not being replaced by new practitioners. A recent Wall Street Journal article shone a spotlight on a disturbing trend: the number of college students graduating with a bachelor’s degree in accounting dropped by almost eight percent from the previous year, according to a study by the…
View detalsUpcoming Webinar: How Business Owners, Management, and Employees Can Benefit from ESOPs in 2023! ESOP Industry News, ESOP Seminars, ESOP WebinarsOctober 25, 2023 Learn why an ESOP is better for You, your Business, and your Employees Upcoming Web Seminar: How Business Owners, Management, and Employees Can Benefit from ESOPs in 2023! In 2023, many companies…
View detals
A recent study commissioned by the Employee-Owned S Corporations of America (ESCA) has unveiled a compelling narrative – workers who own their companies through Employee Stock Ownership Plans (ESOPs) enjoy significantly greater employment advantages compared to the broader American workforce. Employee-owned S corporations excel in employee retention, boasting a corporate culture that fosters worker satisfaction.…
View detalsThis is a series of On-Demand webinars on ESOP best practices and procedures. Presented by the expert legal and administration staff of Menke & Associates, Inc., these webinars focus on best practices and procedures for determining the feasibility of an ESOP, for designing the best Plan provisions for operating an ESOP, for obtaining ESOP appraisals…
View detals
Congress is continuing its support for employee ownership in general and ESOPs in particular with the introduction of bipartisan legislation designed to simplify the process of establishing Employee Stock Ownership Plans (ESOPs) for S-Corps. The Promotion and Expansion of Private Employee Ownership Act aims to address the barriers that have historically hindered S-Corp companies from…
View detals
When BDO USA’s 880 partners met recently in Florida, they voted nearly unanimously to establish an employee stock ownership plan (ESOP). The plan is scheduled to go into effect on August 31, 2023 and will give the firm’s 10,000 employees a direct stake in ownership. The firm’s executives will continue to lead the company and…
View detals
Employee ownership is a powerful force for financial well-being and Employee Stock Ownership Plans (ESOPs) benefit both business owners and employees. The US Federal government recognized these factors in the 2023 national budget by including support for provisions dedicated to spurring ESOPs and Congress has introduced bi-partisan measures to advance employee ownership. The drumbeat of…
View detals
A recent Chicago Sun Times article outlined how Menke client Clark-Devon Hardware, a well-established hardware store based in Chicago, has taken a significant step towards empowering its workforce and securing its future by implementing an Employee Stock Ownership Plan (ESOP). By transitioning to employee ownership, Clark-Devon Hardware aims to create a stronger sense of commitment…
View detals
Small businesses looking to transition to an employee-owned model through ESOPs can benefit greatly from two recent pieces of regulatory guidance from the Small Business Association (SBA) which bring positive changes to the financing landscape for ESOPs. These important pieces of guidance are Procedural Notice 5000-846607 and SOP 50 10, Version 7, both of which…
View detals
In recent years, there has been a growing emphasis on promoting employee ownership in the United States. This focus has been championed by Congressional leaders and various states who recognize the numerous benefits that employee ownership can bring to businesses and their workforce. Earlier in 2023, the passage of the WORK and SECURE 2.0 Acts…
View detals
Protecting High Value Assets Protecting High Value Assets: this phrase expresses the mission for Kennon Products and the litmus test for decisions on investing the company’s resources. Located in the foothills of the Big Horn Mountains in Sheridan, Wyoming, the company’s ability to innovate and excellence in engineering led to its focus on protecting high…
View detals