Psst — wanna buy my construction company? ESOPs offer another retirement option

Description

Abstract: As many contractors near retirement, they begin to wonder what to do with their businesses. In many cases, the answer is to sell to a third party, transfer ownership to family or key employees, or liquidate. There is, however, another option worth considering — the employee stock ownership plan (ESOP). This article discusses the ins and outs of these increasingly popular arrangements.