CLEVELAND, OH, April 20, 2020 – Avery M. Chenin of SES ESOP Strategies presented a webinar as part of The ESOP Association’s COVID-19 Action Center Webinar Series on April 13, 2020.
Mr. Chenin presented “Dealing with ESOP Distributions When Cash Is Tight.” This session focused on how ESOP companies can strategically manage the need to make distributions at a time when cash is limited. This is an especially timely topic as the current financial crisis may lead some companies to make tough personnel decisions, which also have implications for distributions, while at the same time, those nearing retirement may wish to cash in now and get their distributions earlier.
For more than 25 years, Mr. Chenin has counseled businesses and their owners on how to incorporate employee ownership into their business succession plans. He represents closely held businesses and their selling shareholders, ESOP sponsors and ESOP fiduciaries in transactions involving employer securities.
Mr. Chenin works with companies and their owners in the planning, development, implementation and ongoing maintenance of ESOPs. He also helps clients with IRS and Department of Labor examinations and audits, and in the resolution of plan defects, including the submission of plan corrections under both the IRS and Department of Labor correction programs. He holds a J.D. and a B.S. in Accounting from Case Western Reserve University.
Avery M. Chenin