Federal Acquisition Regulation; Employee Stock Ownership Plans

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The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council are proposing changes to the cost principles in the Federal Acquisition Regulation (FAR) to address employee stock ownership plans (ESOPs). The purpose is to ensure uniform treatment on the allowability of costs of all ESOP's irrespective of whether the ESOP is structured as a pension plan or as deferred compensation, including making the interest costs of leveraged ESOPs expressly unallowable. This regulatory action was subject to Office of Management and Budget review under Executive Order 12866, dated September 30, 1993.