ESOPs IN BLOOM CONFERENCE SPONSORS

Transcription

1 MICHIGAN CHAPTER OF THE ESOP ASSOCIATION ANNUAL SPRING ESOP CONFERENCE Monday, March 30, :45 A.M. to 3:30 P.M. Lansing Center 333 E. Michigan Avenue (Parking under the Lansing Center is $6.00 per day, per entry, per spot. The North Grand Ramp is $10.00 maximum per day.) ESOPs IN BLOOM CONFERENCE SPONSORS

2 SPRING CONFERENCE PROGRAM 8:15 A.M. ~ Registration / Continental Breakfast 8:45 A.M. ~ Welcome / Announcements / Recognition of Sponsors David L. Bosch, Watkins Ross, Grand Rapids, MI, Michigan Chapter President 9:00 A.M. ~ THE ECONOMIC OUTLOOK BY JAMES E. GLASSMAN The economy appears to be out of the woods, with real estate excesses cleared and the job market improving admirably. Compared with the performance of other developed economies, the U.S. performance is quite impressive. This discussion will explore the factors that are likely to shape the U.S. and global economies throughout 2015 and beyond. As Managing Director with JPMorgan Chase and Head Economist for Chase Commercial Banking, James Glassman provides market insights to help clients better understand the changing economy and its impact on their business. Mr. Glassman also works closely with the firm s Corporate Sector, including the Chief Investment Office and Investor Relations, as well as the Investment Bank and Government Relations groups, providing financial analysis and research. A publisher of independent research on the principal forces shaping the economy and financial markets, Mr. Glassman is regularly cited in the financial media, where he is also a frequent commentator on economic policy issues. Additionally, he is a long-standing participant in the widely-followed Federal Reserve Bank of Philadelphia Survey of Professional Forecasters and the National Association of Business Economists panel of marco-economic forecasters. Mr. Glassman earned a Bachelor s degree from the University of Illinois, Champaign-Urbana, and a Master s degree in Economics from the University of Illinois, Chicago. He was awarded a Ph.D. in Economics from Northwestern University. 10:00 A.M. ~ BREAK 10:15 A.M. ~ CONCURRENT BREAKOUT SESSIONS Session A THE ESOP EDUCATION BUCKET LIST ~ RECRUITMENT THROUGH RETIREMENT Victor N. Aspengren, Prairie Capital Advisors, Inc., Cedar Rapids, IA (Moderator) Theresa Cooper, The ASU Group, Okemos, MI Robert Frostick, Granco Clark, Inc., Belding, MI What comes first for new hires? Employee ownership, ESOP education, financial literacy, personal goals, job training, etc. What is the best way to move a new employee to becoming an employee owner? This is a new perspective on the methods to the madness! A CD of developed education materials and examples will be distributed at the end of the presentation. GREATBANC / DOL SETTLEMENT: WHAT SHOULD YOU KNOW? Nicholas A. Adamy, Adamy Valuation Advisors, Grand Rapids, MI Justin W. Stemple, Warner Norcross & Judd LLP, Grand Rapids, MI Last year, the Department of Labor announced that it had settled ESOP litigation with GreatBanc Trust Company. The settlement was unique because GreatBanc agreed to abide by certain procedures when it is engaged as an ESOP trustee and those procedures were made public as part of the settlement. Although the settlement agreement is only binding on GreatBanc, the procedures GreatBanc agreed to provide ESOP trustees, companies and advisors with insight into what the DOL believes are best practices with respect to ESOP transactions; and, by extension, in the relationship between ESOP trustees and their financial advisors. This session is designed for ESOP trustees, professionals and anyone considering an ESOP transaction. RAISING CAPITAL FOR ESOP TRANSACTIONS Mark R. Fournier, Stout Risius Ross, Inc., McLean, VA (Moderator) Matthew B. Nels, Fifth Third Bank, Chicago, IL Julie A. Williams, Chase, Grand Rapids, MI Whether you are forming an ESOP for the first time or using your current ESOP to buy more stock, there are a number of financing alternatives available. This breakout session will discuss the cost and benefits of the different sources of capital available to a company contemplating an ESOP transaction, including senior bank lending, mezzanine capital, seller financing, and structured equity. 11:30 A.M. ~ LUNCHEON PRESENTATION OF 2015 CHAPTER AWARDS

3 Session A 12:45 P.M. ~ CONCURRENT BREAKOUT SESSIONS EXPLAINING THE VALUATION REPORT TO EMPLOYEE OWNERS Brian DeMaagd, Adamy Valuation Advisors, Grand Rapids, MI Alex Perry, Adamy Valuation Advisors, Grand Rapids, MI Every year your company s employee owners receive an account statement showing a stock value that is different from the previous year. What does this number represent? Where does it come from? Why does it change? How can the employee owners influence it? This session will demonstrate ways to make the ESOP value real to individual employees and give them a clear sense of how they can affect the value going forward. Learn how to unravel the technical jargon of the stock valuation and instead use it as a communication tool. VARIOUS ROLES MANAGEMENT PLAYS IN AN ESOP COMPANY Victor N. Aspengren, Prairie Capital Advisors, Inc., Cedar Rapids, IA (Moderator) Doug Buma, IFR, Inc., Zeeland, MI Kenneth Misiewicz, Pleune Service Company, Grand Rapids, MI This panel will examine the interplay of the ESOP with the management team ~ specifically, the who and how by the management team in addressing the technical, financial, cultural, strategic and leadership aspects of an ESOP. The panel will also address the different phases and life stages of an ESOP and how management roles can change over time. The session will be interactive and key lessons learned will be shared. FIDUCIARY REVIEW OF A VALUATION REPORT Tracy E. Woolsey, Horizon Trust & Investment Management, Michigan City, IN (Moderator) Darrell Smith, Prairie Capital Advisors, Inc., Novi, MI In this session, we will help prepare internal fiduciaries in the review of a valuation report. We will cover the fiduciary s responsibilities in regard to the valuation report, the importance of process, reconciling the report, common errors, a review with the valuation firm, and other things to consider. In addition, we will discuss some of the recent changes that have occurred in the industry that have affected the past practices. 2:00 P.M. ~ BREAK 2:15 P.M. ~ CONCURRENT BREAKOUT SESSIONS Session A AVOIDING THE DEADLY SINS OF ESOP COMMUNICATION COMMITTEES Jim Bado, Workplace Development Inc., Findlay, OH Attend this hands-on session to learn the common errors (sins) that ESOP Communication Committees commit and to gain practical tips for what you can do to avoid them. Participants will leave with real-world examples of how to start, recharge and keep your ESOP Communication Committee s efforts successful. MANAGING & FUNDING THE ESOP REPURCHASE OBLIGATION Pete Shuler, Crowe Horwath LLP, Columbus, OH (Moderator) Stephen J. Lowney, Foster Swift Collins & Smith PC, Lansing, MI Why is my third-party administrator (TPA) asking for so much information? Why do they need it? How important is it? This session will answer all of those questions and more. We will discuss the importance of providing correct dates, hours, compensation, and other information for all of your employees; the importance of keeping your TPA and ESOP counsel in the loop regarding distributions, QDRO s, plan amendments, and deferred compensation plans; and the overall benefits of having a good, open relationship with your TPA and ESOP counsel. ACCOUNTING ISSUES FOR ESOP-OWNED COMPANIES Eric Oman, Monroe Sweeris & Tromp, PLC, Grand Rapids, MI How does the ESOP impact the company s financial statements? This session addresses ESOP loan accounting, the financial statement impact of contributions, dividends and S-Corp distributions, the impact of the ESOP valuation and other key accounting issues. REGISTER BY MARCH 24, 2015, TO SAVE $25.OO PER ATTENDEE

4 BREAKFAST / LUNCHEON SPONSORS THE ESOP ASSOCIATION S VISION STATEMENT PROSPERITY WITH JUSTICE THROUGH EMPLOYEE OWNERSHIP We believe that employee ownership improves American competitiveness... that it increases productivity through greater participation in the workplace... that it strengthens our free enterprise economy and creates a broader distribution of wealth... and that it maximizes human potential by enhancing the self-worth, dignity, and well-being of our people. Therefore, we envision an America where employee ownership is widely recognized as a catalyst for economic prosperity... where the great majority of employees own stock in the companies where they work... and where employee ownership enables employees to share in the wealth they help create. And we look for our nation to become for all the world an example of prosperity with justice through employee ownership. MICHIGAN CHAPTER OFFICERS President Mr. David Bosch Watkins Ross 200 Ottawa Ave., NW, Suite 600 Grand Rapids, MI dbosch@watkinsross.com Vice President Mr. Stephen J. Lowney Foster Swift Collins & Smith PC 313 S. Washington Square slowney@fosterswift.com Senior Vice President Ms. Jackie Roehl NTH Consultants, Ltd Six Mile Road Northville, MI jroehl@nthconsultants.com Secretary Mr. Rick Kooiker Fleetwood Group, Inc. PO Box 1259 Holland, MI rickk@fleetwoodgroup.com Vice President - Programs Mr. Justin Stemple Warner Norcross & Judd LLP 111 Lyon Street, NW, Suite 900 Grand Rapids, MI jstemple@wnj.com Treasurer Mr. Brian DeMaagd Adamy Valuation Advisors 50 Louis Street, NW, Suite 405 Grand Raoids, MI bdemaagd@adamyvaluation.com Immediate Past President Ms. Terri Barlow Thomson-Shore, Inc W Joy Road Dexter, MI x 2214 terrib@thomsonshore.com Chapter Administrator Ms. Karrie Imbrogno Executive Administrative Services, Inc. PO Box 407 Amherst, OH karrie@esopchapters.com REGISTER ONLINE AT REGISTRATION DEADLINE IS 3/24/15

5 REGISTRATION FORM ~ Deadline March 24, 2015 Michigan Chapter of The ESOP Association Annual Spring ESOP Conference Monday, March 30, 2015 Lansing Center 333 E. Michigan Avenue Registration MUST BE RECEIVED by March 24, 2015, to qualify for discounted pricing. ESOP Association Member - First Attendee ESOP Association Member - Each Additional Attendee On or Before 3/24/15 $ $ After 3/24/15 and Walk-ins $ $ Non-member (Each Attendee) $ $ If you are a non-member of The ESOP Association, do you have an ESOP? Yes No If you are a non-member of The ESOP Association, are you an ESOP service provider? Yes No Provide each attendee s name AS IT SHOULD BE PRINTED ON THEIR NAME TAG. Beside each attendee s name, state their position within the company, i.e., CEO, President (P), VP, CFO, HR Department Personnel (HR), ESOP Committee Member (ECM), New Employee Owner (NEO), etc. Name(s) TO REGISTER AND PAY BY CREDIT CARD ONLINE, go to Under the Chapters menu, click on Chapter Events and scroll down to Michigan Chapter Annual Spring ESOP Conference (Lansing, MI) TO REGISTER AND PAY BY CHECK, COMPETE THE FORM BELOW Company Address City State Zip Phone Contact Person (Required tor Registration Confirmation) Enclosed is a check, made payable to The ESOP Association, in the amount of $ Return completed registration form with payment by March 24, 2015, to: The ESOP Association Michigan Chapter P.O. Box 407 Amherst, OH (Please ~ DO NOT send registration and payment to National Office in Washington, D.C.) CANCELLATION POLICY NO REFUNDS will be given after March 24, Substitutions will be accepted. (Non-member fees apply if a non-member professional replaces a member professional.) QUESTIONS? CONTACT: Karrie Imbrogno ESOP Chapter Administrator or karrie@esopchapters.com