The trustee controls the ESOP trust. He or she represents the plan participants and makes sure that the plan is operated in their best interests. The trustee also sets the annual price of the stock with the help of the independent valuation firm.
This Q&A was authored by Monika Zimmer and Pete Shuler, benefit plan services principals with Crowe. Crowe is a third-party administrator that handles all facets of plan administration for ESOPs.