Building Your ESOP Dream Team: A Guide to Who Does What

When a critical question about your ESOP arises, who do you call? An ESOP’s success hinges on the seamless coordination of several distinct functions, but confusion can lead to delays, unnecessary costs, compliance risks, and even litigation. Under the law, companies that sponsor an ESOP have a duty of prudence to seek and monitor the help of service providers with these functions. This session is a definitive guide to "who does what"—an exploration of the specific duties of each key role in your plan’s ecosystem. We will break down core and auxiliary functions, discuss differences between fiduciaries and nonfiduciaries, and use real-world scenarios of who’s involved in key decision points. Participants will leave with a clear playbook for their 'ESOP Dream Team,' empowering them to confidently and efficiently manage their internal responsibilities and professional advisors.