WHAT IS A GOOD TECHNICAL CONFERENCE WORTH?
Originally published in January of 2003, this article remains as true now as it was then.

In the ESOP world, only one notable conference is devoted solely to technical ESOP issues.  This is the 2-Day Conference sponsored by The ESOP Association and held in Las Vegas each November.  Typical expenses for an attendee might run between $1,000 and $1,500 per person, including conference registration, travel, and hotel/meals.  (Sorry, this does NOT include time spent at the gaming tables or attendance at any of the amazing Vegas shows.)  So what makes this conference worth sending one or more representatives from your company?

ESOP technical issues fall into four general categories: legal, valuation, finance, and administration.  ESOP sponsors fall into two groups:  those who use outside ESOP specialists for everything, and those who do most everything themselves.  Even companies using outside professionals need to have a frame of reference for their technical ESOP issues, and certainly those sponsors who do it themselves need to have a source of professional information.  This is where the Las Vegas conference can make a big positive difference.

The program for the Las Vegas conference is put together by the current Chairpersons of The ESOP Association’s Advisory Committees Chairs Council, representing (you guessed it) legal, valuation, finance and administration.   The Chairpersons seek to provide a venue that will attract both new and repeat attendees, as well as provide them with the information they need.  The 38 breakout sessions include subjects that range from the most basic to the most advanced in all areas, as well as a smattering of topical issues such as 409(p) testing for Sub S corporations and new FASB rules.  The conference even contains several sessions dealing with how to talk to your employees about technical issues.  Particularly in 100% ESOP-owned companies, issues of corporate governance and communications go hand in hand with technical issues.  If there is a problem with the Las Vegas conference, it is that there is too much good material to absorb.  Being the only representative from your company can bring on a major attack of indecision as to which sessions to attend. 

The other valuable component to the Las Vegas conference is the ability to network, both with other ESOP companies and with some of the best professionals in the business.  ESOP law and practice is full of the well-known “gray areas” where attorneys and other experts may have varying views in the absence of direct guidance from the Internal Revenue Service and/or Department of Labor.  The Las Vegas venue encourages attendees to ask questions of presenters, many of whom can also be approached in the halls outside the breakout rooms as well as during their sessions. 

Having stated the benefits of attending Las Vegas, let’s review what you could get for your money at the 2-Day Conference.  Assuming you are the only attendee from your company, you could attend up to four breakout sessions per day, any one of which could cost about $200 if a separate seminar.  That’s $800 times two days, or $1,600.  Perhaps you question three “experts,” receiving information each time worth $200 for a total of $600.  Already the conference has paid for itself.  Multiply your savings by the fact that you will take back all that information and teach it to your company colleagues, and the value can be unlimited.  One more thing — suppose you learned how to put a larger contribution into your combined plans, or how to structure a deferred compensation package that won’t threaten your 409(p) test.  Total it all up for more return on your meeting investment.  (If you had fun you can add something for psychological income as well).