Employee Ownership Month Quiz 1: ESOP Facts

Hint: Many answers can be found at ESOPAssociation.org.

When you complete the survey, hit the Done button and you will be directed to a special page on The ESOP Association website for links to more information.

Question Title

* 1. What legislation codified ESOPs into law?

COBRA

Pension Protection Act

Employee Retirement Income Security Act

ESOP Act

None of the Above

Question Title

* 2. How many employee owners are there in the United States?

10.6 million

7.3 million

11.4 million

No one knows

Question Title

* 3. How many companies have an ESOP in the U.S.?

More than 10,000

6,243

1,542

No one knows

Question Title

* 4. Unlike 401(k)s, ESOPs...

Have no option for diversifying investments

Typically require no monetary contribution from employees

Offer payouts that are capped by law at a certain amount

Are not subject to federal regulations for retirement plans

Question Title

* 5. Companies that obtain a loan to purchase shares for an ESOP can deduct which of the following items?

Principal on the loan

Interest on the loan

Neither principal nor interest

Both principal and interest