UPDATE - DOL Fiduciary Agreement


The DOL Fiduciary Process Agreement was created as a result of a legal settlement between GreatBanc Trust Company and the Department of Labor.  This agreement is intended to provide guidance for the recommended due diligence for both the ESOP Trustee and Valuation Advisor.  The agreement can be viewed as a “playbook” that, if followed, can serve as evidence that the trustee fulfilled its fiduciary duty by engaging a prudent process in connection with an ESOP transaction.

DOL Process Agreement - esop-agreement-appraisal-guidelines.pdf