The ESOP enhances our continuous-improvement culture to one of investment and ownership and provides employees with assurance that they can be self-supporting in their retirement years.
DELANO, Minn. (PRWEB) April 17, 2018
Landscape Structures Inc., a Delano, Minn.-based commercial playground equipment manufacturer, was recognized for its Total Retirement Offering at the 2018 Plan Sponsor of the Year Awards, which was held on March 29 in New York City. Landscape Structures was honored with the award based on the richness of the retirement program offerings, commitment to the program, and leadership and innovation in helping employees reach a secure retirement.
Through its 401(k) and employee stock ownership plan (ESOP), Landscape Structures aims for its employees to be able to maintain their standard of living in retirement, which the company defines as 75 to 100 percent of their pre-retirement income. According to the most current statistics, based on a 2016 retirement readiness report done by advisory firm, Intellicents Inc., 71 percent of employees were on track to achieve that goal.
Landscape Structures and its employees work in tandem to ensure retirement goals are met. “We encourage employees to save at least 8 percent of their earnings in the 401(k), so they receive the full 4 percent employer match,” says Karlye Emerson, vice president of corporate strategy and human capital at Landscape Structures. “And the ESOP has contributed, on average, 15 percent of their earnings each year.”
While the plan is set up so the company contributes more than twice the amount that employees do, the success of the ESOP is in employees’ hands. “The ESOP enhances our continuous-improvement culture to one of investment and ownership and provides employees with assurance that they can be self-supporting in their retirement years,” says Emerson.
Learn more about Landscape Structures at playlsi.com.
About Landscape Structures
Since 1971, Landscape Structures Inc. has been the leading manufacturer of commercial playground equipment in the world. Our employee-owned company designs community and school playgrounds that encourage kids of all ages and abilities to learn persistence, leadership, competition, bravery, support and empathy through play. We push the limits—of design, inclusion, play—to help kids realize there is no limit to what they can do today and in the future. For a better tomorrow, we play today.