Benefits Agency Reports Recent Employee-Owned Company Growth

The number of participants in employee stock ownership plans spiked by roughly 1 million from 2014-2023, the nation’s top federal benefits regulator said in a report to Congress.

The Employee Benefits Security Administration issued the reporton Monday that detailed trends in employee ownership, including through ESOPs, worker cooperatives, and employee ownership trusts.

The report also outlined ways in which the agency is trying to bolster worker-owned businesses following the passage of the SECURE 2.0 Act in 2022. The law required the creation of an EBSA Employee Ownership Initiative.

EBSA recently removed ESOPs from its list of national enforcement priorities ...