The ESOP Journey – From Implementation to Maturity

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Regardless of what stage your ESOP is in, change happens.

Sometimes the ESOP grows faster than expected—and leaves you wondering how to keep up. You may be surprised by the operational challenges that arise when participants don’t enter the plan quickly enough, receive allocations, or begin to adopt the cultural norms of your ESOP company.

If you’re leading an ESOP company and are asking questions about plan design, distribution rules and policies, future diversification, compliance testing aches and pains, or when a repurchase obligation study needed, this interactive pre-conference workshop is for you.

Over the course of this in-depth, 3-hour session, our senior ESOP experts will guide you through the critical stages of the ESOP lifecycle, focusing on the unique challenges that emerge once your ESOP is established and thriving.

Key Topics We’ll Cover:

  • The Growth of ESOP Accounts: How balances accumulate, how distributions are paid, and the mechanics of cash flow back into the ESOP.
  • The 5R’s, Diversification, and Distribution Policies: A practical primer on the policies every mature ESOP should review and refine.
  • Repurchase Obligation in Action: An overview of why, when, and how—plus key considerations and strategies for future planning.
  • Putting It All Together: How to apply these insights to strengthen your company’s ability to meet current ESOP growth and obligations, while setting the groundwork for future plan participants.

By the end of this workshop, you’ll walk away with actionable tools, practical frameworks, and a clearer picture of how to confidently manage today’s ESOP challenges today, while planning for tomorrow.

Learning objectives

  1. Understand how balances accumulate, how distributions are paid, and the mechanics of cash flow back into the ESOP.
  2. Understand an overview of why, when, and how—plus key considerations and strategies for future planning.
  3. Application of insights to strengthen your company’s ability to meet current ESOP growth and obligations, while setting the groundwork for future plan participants.

Session info

Date & time: April 6, 2026 | 9:00 AM - 12:00 PM

Presenters: Scott Freund and Barbara Clough, Blue Ridge Associates; Markus Dahl, Eide Bailly

Sponsor: Blue Ridge

Presenters

Headshot for Scott J. Freund

Scott J. Freund

Scott has more than 23 years of experience providing administration and consulting advice to ESOP clients. Scott is a member of the ESOP Association's Administration Advisory Committee and is a frequent speaker on ESOP administration topics for both the ESOP Association and the NCEO. He has extensive experience with ERISA law, Department of Labor regulations and IRS code compliance. He has worked closely with plan sponsors, accountants, advisors, and legal counsel to provide guidance on plan design and to resolve plan issues such as compliance matters and audit discrepancies.
Headshot for Barbara M. Clough

Barbara M. Clough

Barbara Clough is a Vice President at Blue Ridge Associates. Barbara has a deep understanding of the complexities involved in ESOP administration, her technical expertise includes navigating tricky administration and compliance issues. As an ERISA expert, she ensures adherence to Code Section compliance and provides strategic guidance to clients on plan design, legal matters, and IRS & DOL inquiries.

Accolades include: past Chairwoman of the Administration Advisory Committee, frequent speaker, author, Executive Committee member of the ESOP Association’s Public Policy Council and Vice President of Advocacy for the ESOP Association’s New England Chapter.

Headshot for Markus Dahl

Markus Dahl

Markus Dahl is an audit manager for Eide Bailly based out of their Fargo, ND office and has been working with employee owned companies since 2017. While he geeks out on the technical US GAAP accounting for leveraged ESOPs, stock appreciation rights, stock warrants, business combinations, and noncontrolling interests, he also advises on pre- and post- transaction implementation and the overall sustainability of Company-wide strategies for providing participant benefits.

Markus graduated with a B.S. in Accounting and Finance with a minor in Fraud Investigation from North Dakota State University and has his CPA license.

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