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ESOP
An Employee Stock Ownership Plan (ESOP), such as Ecker’s is a vehicle for employee ownership of the company and to provide a retirement benefit to the employee-owners.
Each year shares are allocated to eligible employees and maintained in a Capital Stock Account within the plan. Unlike a 401k Plan that requires employee contributions, which may or may not have a company matching contribution, the shares allocated to eligible employees is a cost to the company, these benefits are provided at no cost to the employee-owner.
The ESOP gives the employee-owners a personal stake in the company’s success. This creates an atmosphere of teamwork within the organization as we all benefit from working together to provide exceptional customer service, improve processes, reduce costs, and be positioned for growth in the future.
Click here to go to ESOP Association.
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