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INDIANA ESOP INITIATIVE
The Treasurer of the State of Indiana, Richard Mourdock, recently announced the Indiana ESOP Initiative to encourage the formation of new ESOPs in Indiana. The primary initiative is a $50 million linked deposit program. The State will accept a lower interest rate on its deposits with participating banks in exchange for the banks charging a lower rate on ESOP loans. The Treasurer has dedicated a portion of his website to information about ESOPs and the Indiana ESOP Initiative. Among other things the site includes an ESOP toolbox that lists companies such as McCready and Keene that provide services to ESOPs.

Click here for more information. Please contact Jackie Salmon at McCready and Keene if you have questions about ESOPs.

McCready and Keene, Inc. is one of the nation’s largest independent actuarial and employee benefits consulting firms that does not sell financial products or provide investment advice. We specialize in designing, installing and administering customized retirement plans. Since 1933 we have established clients in over 35 states representing over 500,000 participants. Because we work strictly on a fee for service basis, with a completely open architectural environment, and without having to use proprietary funds, we become true advocates for the plan sponsor and plan participants. We are not motivated by sales quotas, but rather by client satisfaction.

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