One way to know where you are going is to put yourself in the driver's seat. You would not have full control of the car until you steer the wheel. Taking ownership of your own personal development, your career growth, and the company's growth are some of the ways you can steer and direct your work life at Lewis Tree Service.
As a Lewis Tree employee, you will be eligible to participate in the Employee Stock Ownership Plan (ESOP).
What is an ESOP? An Employee Stock Ownership Plan (ESOP) is a retirement benefit plan that allows our employees to earn shares of stock in the company. Simply put, eligible employees share in the company's value as employee-owners.
ESOPs vs. 401(k)s One of the biggest differences between an ESOP and a 401(k) is that in an ESOP, the company buys shares for the employees. There is no cost to the employees. The value of the shares are tied to the performance of the company. In a 401(k), employees invest their own money and can choose their investments. And Lewis matches up to 5% of 401(k) contributions with ESOP shares!
When Do I Become Eligible? Non-union employees age 21 and older enter the ESOP following 950 hours of work. That typically happens after about 6 months of 40-hour work weeks.
When Do I Receive Shares? Eligible employees receive an annual allocation of shares every year they work at the company. There is no cost to the employee. Employee owners invest their labor to earn equity!
Can I Earn More Shares? Yes! Once an employee is ESOP eligible and if they participate in the 401(k) SMART Plan, Lewis will match the employee's 401(k) contributions with ESOP shares, up to 5%.
Grow Share Value By Acting Like an Owner As a 100% ESOP company, Lewis encourages all employees to think and act like owners, continuously looking for ways to increase revenue, minimize expenses and work to provide value for our customers and our communities. Every day, you can help impact the Lewis ESOP share value by being good stewards of supplies and energy use, accurately clocking your time, maintaining good communication across work groups, and adhering to safety standards.