When I first heard about ESOPs in the 1990s, I was all in. I loved the concept in theory, but it would be more than 20 years until I could see the transition from a private company to an ESOP up close.
I learned that these transitions are extremely time-consuming, messy, and hard. And once they are set up, members who are beneficiaries in the benefit plan are still missing a key or vital piece of compensation. Can you guess what it is?
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