Stephen D. SmithKrieg DeVault LLP, Indianapolis, USAAreas of Practice: Employee Benefits Contact Information:
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Since 1984, Mr. Smith has dedicated his private law practice primarily to employee stock ownership plans ("ESOPs") and structuring ESOP transactions. Mr. Smith has been responsible for structuring over 150 ESOP transactions for public and private companies. He also designs and implements equity and non-equity-based incentive compensation programs for public and private companies. Mr. Smith represents ESOP sponsors, ESOP fiduciaries, including employer-appointed "committees" and independent ESOP trustees, in ESOP transactions throughout the United States, including the sale of ESOP companies and the termination of ESOPs. Mr. Smith is a partner with the Indianapolis law firm of Krieg DeVault LLP. He holds AB and JD degrees from Indiana University and an LLM in Taxation from Georgetown University Law Center. He is a member of the American and Indiana State Bar Associations. He is also a member of The ESOP Association and its Indiana Chapter, The National Center for Employee Ownership, Employee-Owned S Corporations of America ("ESCA") and its Advisory Board, and the Indiana Benefits Conference. Mr. Smith was actively involved in drafting the S corporation ESOP enabling legislation contained in the Taxpayer Relief Act of 1997. He was a co-author of the S corporation ESOP "anti-abuse" legislation known as the "Breaux/Ramstad Bill." He structured the first ESOP to be sponsored by an S corporation for Liberty Check Printers of Minneapolis. Mr. Smith also structured the first ESOP to become a registered bank holding company, the Horizon Bancorp ESOP of Michigan City, as well as the purchase by an ESOP of a major public accounting firm from H&R Block. From 1975 through 1980, Mr. Smith served on active duty with the U.S. Air Force as a Judge Advocate; from 1980 through 2001, he continued his service as a member of the U.S. Air Force Reserve and retired in January, 2001 with the rank of Colonel. For the last several years of his Reserve duty, Mr. Smith acted as a legal advisor to the Chairman of the Joint Chiefs of Staff and the Under Secretary of Defense in connection with employee benefit plan matters affecting the Department of Defense. He designed and drafted the first "401(k)" plan for members of the Armed Services and authored the related Report to Congress.
U.S. Supreme Court (1978) U.S. Tax Court (1983)
Indiana University School of Law, J.D., 1975 Indiana University, A.B., 1972
Plan Drafting Issues in the Wake of Breaux/Ramstad, Insight, Willamette Management Associates, Spring, 2002 Using an ESOP as an Acquisition Vehicle, Insight, Willamette Management Associates, Spring, 2001 S Corporation ESOPs and Liberty Check Printers, Part II, The Journal of Employee Ownership Law & Finance, Summer, 1999 S Corporation ESOPs and Liberty Check Printers, The Journal of Employee Ownership Law & Finance, Summer, 1998 ESOPs, Thrift Focus, Vol. III, No. 3 Bank Holding Company ESOPs, Tax & Regulatory Considerations, The Banking Law Journal, Vol. 105, Pg. 92, March - April, 1988
"ESOPs for Registered Bank Holding Companies", National Conventions of The ESOP Association "The Internal Revenue Service Voluntary Compliance Resolution and Closing Agreement Programs", The Indiana Tax Institute "Benefits of the New ESOP Rules for the S Corporation", ICLEF Midwest Estate, Tax & Business Planning Institute "Using ESOPs for Planning Estates for Family Businesses", ICLEF "S Corporation ESOPs, 'Tax Loophole' or 'Retirement Plan'", Indiana Pension Conference "S Corporation ESOPs", First Annual ESOP Conference, ICLEF "S Corporation ESOPs", Employee Owned S Corporations of America, Issues 2000 Conference "ESOPs in Mergers and Acquisitions", Employee-Owned S Corporation of America, Issues 2001 Conference "New S Corporation ESOP Regulations", New South Chapter, ESOP Association Conference "Sale of an ESOP Company", NCEO National Conference "S Corporation ESOPs", Ohio Employee Ownership Center Annual Conference "Section 409(p) Regulations", Ohio Employee Ownership Center Annual Conference "Fiduciary Review of Valuation Reports", ESOP Association Annual S Corporation Conference "Structuring ESOP Loans", ESOP Association Annual Technical Conference "Winding Down, Winding Up and Terminating an ESOP", NCEO National Conference "Fiduciary Oversight of the Vaulation Process", ESOP Association Annual Conference ESOPS For S Corporation Bank Holding Companies", S Corporation Bank Association Annual Conference
Indiana Super Lawyers, 2004, 2005, 2006 and 2007 The Legion of Merit, 2001 The National Defense Meritorious Service Medal, 2000 Pro Bono Publico Award - Indiana State Bar Association, 1989 The Meritorious Service Medal (Four Awards), 1977 - 1995
The ESOP Association Interdisciplinary Committee on Fiduciary Issues The National Center for Employee Ownership Employee-Owned S Corporations of America and its Advisory Board Indiana Benefits Conference
David Sheldrick Wildlife Trust, Nairobi, Kenya (Pro Bono Legal Counsel) Community Organizations Legal Assistance Project (Founding Co-Director and Chairman) Mapleton Fall Creek Housing Development Corporation (Founding Co-Director and Secretary) The Oaks Academy (Director, Secretary, & Pro Bono Legal Counsel) Interfaith Homes, Inc. (Director & Chairman of the Board) Impact America Foundation (Founding Director & Secretary) Benevolent Friends of African Charities (Founding Director & Secretary) |
