Ready to retire? — An ESOP can help pave the way

Description

Abstract: How can a business owner convert some of his or her company wealth into cash to help pay for retirement? Many C corporation owners have found that an Employee Stock Ownership Plan (ESOP) — a qualified retirement plan, similar to a profit sharing or 401(k) plan — can help pave the way to a comfortable future. This article describes how an ESOP works and the advantages it offers. A sidebar notes that ESOPs can work for S corporations, too.