Steve devotes much of his practice to counseling employee-owned businesses. He has extensive experience with the use of ESOPs as a succession strategy for business owners and as a vehicle for corporate acquisitions. Steve also focuses on helping employers design and implement all types of employee benefit programs. He frequently represents employers in regulatory actions before the IRS and Department of Labor relating to their benefit plans. When not representing employers, Steve regularly advises plan trustees and other ERISA fiduciaries in transactions involving employer securities.
Steve is a past chair of Gray Plant Mooty’s (GPM) Employee Benefits & Executive Compensation practice group. He was chairman of the Board of Trustees of the GPM Foundation from 1993-2000 and a Board member from 1991-2000.
He is married to Suzanne Dieltz Eide and has three children, Bridget, Alexander, and Sarah (triplets born Dec. 31, 1991).
Publications
- "All-Weather ESOPs: Why ESOPs Work in All Economic Climates," Minnesota Business online "Expert's Forum," February 18, 2010
- “Exit Strategy: Preserve Your Business Legacy with an ESOP,” Article in MinnesotaBusiness, September 2006
- “ESOPs for S Corporations,” column written for Manufacturers Alliance Newsletter, June/July 1999
- “Properly Structuring ESOP 1042 Transactions,” article in Pension & Benefits Week, February 26, 1996, coauthor
Presentations
- “Legal Hot Topics: Is It Just Me, Or Is This Climate Change?” The ESOP Association, Minnesota/ Dakotas Chapter, April and June 2011
- "ESOP Distribution Rules," NCEO/Beyster Institute Employee Ownership Conference, copresenter, Denver, Colorado, April 13-15, 2011
- “Administrative Issues in Troubled Times, Including Partial Plan Terminations,” The ESOP Association, Las Vegas Conference & Trade Show, November 2010
- “Working Session: ESOP Governance,” National Center for Employee Ownership, Employee Ownership Conference, April 2010
- "Transitioning an ESOP Company," The ESOP Association, Midwest Conference of ESOP Champions, September 2009
- "Legal Issues Affecting S Corporation ESOPs," National Center for Employee Ownership, May 2009
- “The Trials and Tribulations of Selling an ESOP Company,” National Center for Employee Ownership, Employee Ownership Conference, April 2009
- “Optimizing Your ESOP Plan Design,” National Center for Employee Ownership, Employee Ownership Conference, April 2009
- “Business Succession Strategies—The ESOP Option,” Anderson Entrepreneurial Center, Panelist at Succession Strategies Forum, October 2007
- “ESOPs: Fixing Problems and Finding Solutions,” Presentation at 2007 Employee Ownership Conference, March 2007
- “Launching an ESOP: Feasibility and Start Up Issues,” National Center for Employee Ownership, Discussion Leader at 2006 and 2007 Employee Ownership Conferences
- “Fiduciary Issues in S Corporation ESOP Companies,” The ESOP Association, 8th Annual S Corporation ESOP Seminar, Orlando, Florida, February 2006
- “Retirement Plan Basics: Selecting the Right Tool for the Job,” Minnesota Continuing Legal Education, The 2004 Tax Institute, November 2004
- “The Employee Benefits Revolution—How Do Small Employers Respond?,” Minnesota Association of Public Accountants, 2004 MAPA Convention, June 2004
- “ESOPs and S Corporations,” Minnesota Continuing Legal Education, The 2003 Tax Institute, November 2003
- “Using Life Insurance to Fund ESOP Repurchase Liability,” Minnesota Association of Insurance and Financial Planners, Advanced Life Underwriting Institute, September 2000
- “ESOPs,” Manufacturers Alliance, Leaders Alliance Executive Group Meeting, April 1999
- “ESOP 1042 Transactions,” Advanced Life Underwriting Institute (MALU), August 1997
- “Distribution Planning Tips and Advice,” Minnesota Institute of Legal Education, Continuing Legal Education Seminar on Retirement Planning & Employee Benefits, February 1997
- “Current Developments in ESOPs,” Minnesota Institute of Legal Education, Continuing Legal Education Seminar on Understanding and De-Mystifying Employee Benefits, October 1996
- “Qualified Domestic Relations Orders,” Central Minnesota Legal Services, Continuing Legal Education Seminar on Financial Issues in Family Law, April 1995
- “Controlling Cost of ESOP Repurchase Liability by Design,” Presentation at Seminar on Repurchase Liability for ESOPs, jointly sponsored by Merrill Lynch, Gray Plant Mooty, and Larson Allen Weishair & Co., March 1995
Education
- Yale Law School, J.D., 1981
- Washington University in St. Louis, B.A. in economics, summa cum laude, 1978
Phi Beta Kappa, 1977
Bar Admissions
Professional Activities
- The ESOP Association
- National Center for Employee Ownership
- The ESOP Association, MN/Dakotas Chapter, Government Relations Committee
- Profit Sharing/401(k) Council of America
- Minnesota State Bar Association
- Hennepin County Bar Association
- Law clerk for The Honorable C. Donald Peterson
Associate Justice, Minnesota Supreme Court, 1981-1982
Honors and Distinctions
- “Best Lawyers in America,” 2003-2006
Community Involvement
- Boy Scout Troop 283, past committee member
- Eagle Scout, 1971
- Legal Aid Society of Minneapolis, Inc., Minneapolis, MN, volunteer, assisting in preparation of domestic relations orders involving retirement benefits, 1991-present
- Plymouth Soccer Association, former coach
- Tree Trust, past board member