Filed Under:Markets, Employee Benefits

Principal Financial’s Jerry Ripperger Talks up ESOPs

Photo credit: David Castillo Dominici
Photo credit: David Castillo Dominici

NUL Senior Editor Warren S. Hersch recently met with Jerry Ripperger, director-consulting of Des Moines, Iowa-based Principal Financial Group. The interview explored company and industry developments in respect to employee stock ownership plans: tax-qualified defined contribution retirement plans in which employees have partial ownership of the business. The following are excerpts.

Hersch: Which types of businesses are key prospects for an ESOP transaction? Are you finding greater interest in ESOP among these companies than in prior years?

Ripperger: We can offer one-on-one training if there is a sales opportunity; we won't train for the sake of training. The advisor who brings us client prospects can be as involved in the ESOP implementation as they want. Particularly noteworthy about ESOPs is their uniqueness and flexibility: If you do 20 of them, there will be 20 different plans.

Hersch: How might an ESOP be structured if the business owner's children also want to be involved in the business?

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Nichole Morford

Nichole Morford
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