qualifying employer security
- qualifying employer security
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qualifying employer security (QES)
USA
A security issued by an employer of employees covered by an employee benefit plan, or by the employer's affiliate, that is any of the following:
• stock.
• interest in certain publicly traded partnerships.
If a plan is not an eligible individual account plan, the stock or interest in a publicly traded partnership held by the plan must meet both of the following tests immediately after the plan acquires them to be considered QES:
• The plan cannot hold more than 25% of the aggregate amount of the same class of stock issued and outstanding.
• Persons independent of the issuer must hold at least 50% of the aggregate amount of the same class of stock issued and outstanding.
Special rules apply to a plan's purchase, sale or holding of a QES.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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