On November 28, Scott Stitt was the featured guest on The ESOP Podcast, Episode 13. Scott spoke with Bret Keisling of Capital Trustees, LLC about general trends in ERISA litigation, the recent history of interactions of ESOPs with the Department of Labor, and the implications of the GreatBanc DOL Settlement ESOP Fiduciary Process Agreement, First Bankers Trust DOL Settlement, and the BAT Masonry Agreement. They discussed how ESOPs should treat DOL audits like a deposition in order to keep statements from being taken out of context, and they emphasized the importance of real independence and arms-length negotiations during the ESOP creation process and the criticality of clear and detailed documentation.

Listen to the podcast here.