ESOP Partners Becomes an ESOP Company
ESOP Partners joins the ranks of approximately 6,600 companies that are owned by an ESOP.
APPLETON, WIS., Oct. 29, 2019 /PRNewswire-PRWeb/ -- ESOP Partners LLC reached another milestone and is proud to announce that it is now an ESOP company. "Our purpose is to change lives through employee ownership. What better way to achieve this than by establishing an ESOP and ownership culture at ESOP Partners to showcase to the ESOP community," says Aaron Juckett, President and Founder.
Committing to the new building and becoming an ESOP company are two ways that ESOP Partners is demonstrating a long-term commitment to the ESOP community.
Earlier this year the company held a ribbon-cutting ceremony and open house to celebrate moving into a new corporate headquarters. The building includes the Employee Ownership Training Center, which is used to educate the community about employee ownership and how it changes lives by creating wealth and sustainable employment.
ESOPs protect the legacy of companies in the local community that they are a part of and protect jobs. A recent study demonstrated that employee owned companies are 235% better at job retention than their non-ESOP counterparts. ESOP Partners is using the EOTC to "provide a forum to share education about ESOPs with companies, business leaders and business owners…. So, companies can remain local for years to come, jobs can be retained, and we can change lives by creating wealth and sustainable employment through employee ownership," says Aaron Juckett.
About ESOP Partners
As an ESOP company, ESOP Partners changes lives by creating wealth and sustainable employment through employee ownership and works with business owners and companies to determine if an ESOP is a good fit for their situation. ESOP Partners establishes, maintains, and sustains employee stock ownership plans (ESOPs) throughout the lifecycle of the company to maximize the benefits of being an ESOP company and provide employees with an ownership stake in the company that they work for.
About ESOPs
ESOP stands for Employee Stock Ownership Plan. An ESOP is a qualified retirement plan that can be used as a business transition tool and as an employee ownership vehicle. An ESOP buys, holds and sells company stock, providing employees with an ownership stake in the company as well as an additional form of compensation directly linked to the success of the company.
The portion of a company owned by an S Corporation ESOP is not subject to federal or state income taxation, increasing cash flow and providing the company with a competitive advantage. In almost all ESOPs the benefit is funded 100% by the company, providing an ownership stake at no cost to the employee.
The total number of ESOPs in the country is about 6,660, representing 14.3 million participants and total plan assets of $1.4 trillion dollars. Studies have demonstrated that ESOP companies outperform their non-ESOP counterparts. A recent study demonstrated that employee owned companies are 235% better at job retention than their non-ESOP counterparts.
If you would like more information about ESOP Partners LLC or Employee Ownership and Employee Stock Ownership Plans, please contact ESOP Partners at 920.659.6000 and visit https://www.ESOPPartners.com. Check out our One-Stop Blog at https://www.ESOPPartners.com/blog.
SOURCE ESOP Partners
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