Kutak Rock partner Michelle Ueding will present twice at the ESOP Association’s 2024 Midwest Regional Conference. The event will take place September 18-20 in Kansas City and will provide the Employee Stock Ownership Plan community and ESOP professionals a chance to collaborate, network, and share best practices.

Click here to learn more about the event.

Michelle’s first session will take place on Thursday, September 19 from 1:45 to 2:40 p.m. (CT). Her discussion, titled “When can I, when must I, and how do I distribute ESOP accounts” will cover the following topics:

• The distribution requirements for terminated, deceased and missing participants, as well as those unique to ESOP’s like diversification distributions, the five-year requirement, put options and distributions rules for leveraged plans
• Reviewing and translating common plan language
• Reviewing common distribution policy designs and how to follow and implement those policies in conjunction with the plan document
• Understanding what the law mandates regarding distributions, what is permissive and how to determine what a company’s ESOP requires

On Friday, September 20 from 10:50 to 11:45 a.m. (CT), Michelle will present “Correcting Mistakes Voluntarily.” The discussion will include the following topics:

• Guidance programs offered by the IRS and Department of Labor that allow for fairly painless resolution to mistakes that can jeopardize plan tax qualification or be considered a fiduciary breach
• Common mistakes made by ESOP sponsors
• How to make corrections
• Best practices to minimize mistakes
• Attendee Q&A

Michelle represents closely held, publicly traded, nonprofit and governmental plan sponsors as well as institutions, and committees who administer, advise or serve as fiduciaries of employee benefit plans. She assists clients with plan design, due diligence, fiduciary duties, administration, investment review, disclosure requirements, plan policies and administrative procedures, operational compliance, IRS and DOL filings and audits. Special areas of concentration include design and operation of 401(k), ESOP, governmental, and other qualified plans; Section 403(b), 457, employee stock purchase plans, 409A and executive compensation arrangements.