By the Numbers
What The Heck Is AN ESOP anyway?
An Employee Stock Ownership Plan (ESOP) is a benefit plan that gives employees ownership of the company they work for in the form of stock. For employee-owners at ESS, this means having a stake in the company’s financial success and gaining wealth in addition to annual salary for as long as they’re with the company. Bottom line, it keeps our profits where they belong — with the people who work hard to make ESS successful.
Details
Here’s the breakdown of how it works
Our ESOP helps employee-owners build wealth through a combination of stock ownership and investment by both individuals and the company.
These videos break down how it works:
At a Glance
Bottom line: work here, build wealth
Our ESOP is a unique program that brings advantages to ESS that other companies simply aren’t able to offer — not least of which is the ability for employee-owners to grow wealth during the course of their careers.
Key takeaways
Drives company wealth
Drives individual wealth
ESOP is extremely high performing
Outperforms the S&P 500 and Dow Jones
Employee-Owner Testimonials
Millionaire Club Members
Our ESOP has been a game-changer for thousands of past and present ESS employee-owners. Here’s what a few of them have to say about it.
FAQ
Questions about our ESOP?
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Are all ESS employees automatically enrolled in the ESOP?
Once your eligibility has been met, you are automatically entered into the plan. That’s it! No paperwork, no phone calls, no extra hassles – nada – you’re in! How do you become eligible? We’re glad you asked! You are eligible for the ESS ESOP if you are an employee-owner, who is at least 18 years of age, and has worked 1,000 hours.
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Do employees contribute part of their earnings to the ESOP like a 401k?
No. All contributions are made by ESS. Unlike a 401k, you don’t have to pony up any of your own hard-earned moolah. Yeah – that’s pretty awesome!
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What happens to my ESOP earnings if I leave ESS to work somewhere else?
If you are a non-vested employee-owner and you leave the company, your shares are forfeited and distributed amongst the active employee-owners’ accounts. If you are a vested employee-owner, any allocation that has been placed in your ESOP account is 100% yours to take and cannot be forfeited.
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Am I allowed to sell stock that I earned through ESOP before my retirement?
Not typically! This plan is intended for whatever adventure awaits after you retire from ESS. In some cases, if specific requirements are met, you may be able to access your account prior to your official retirement.
