With the release of the Final 409A Regs, the Tribune ESOP deal couldn’t happen at a more interesting time for the ERISA academics among us. Today, Allan Sloan devotes his column in the Washington Post to a summary of the Tribune ESOP deal, which includes the Tribune changing from a C-Corp to an S-Corp after the ESOP is created. Meaning that if all goes well, the Tribune will become another S-Corp with an ESOP. From a plan document standpoint, being an S-Corp with an ESOP was not the best category to be in over the last couple of years.
Dale Oesterle, of the Business Law Prof Blog, gives us a short paragraph on the steps involved in the sale of the Tribune along with a little commentary. [tags]Pension Protection Act, 409A, ESOP, employee stock, tribune, retirement, pension, ppa[/tags]
