I tend not to involve myself in politics. I'm much more comfortable in the world of data, where everything is determined by incontrovertible ones and zeroes instead of who happens to be better at arguing. That said, I thought I'd try to be a little topical today.
In 1999, right around the time Mitt Romney was leaving to go run the Olympics, Bain & Company decided to terminate their ESOP (and I'm not saying one has anything to do with the other—Romney was much more involved with Bain Capital than Bain & Company). This is not unusual. Lots of companies have ESOPs, and lots of companies terminate them. Also not unusual is the fact that Bain wanted to roll some of the money in the ESOP into another plan—in this case, Bain's 401(k).
What does seem unusual, though, is how the money got from Point A to Point B, and whether it did at all.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
