An actual depiction of a Lewis General Foreperson's ESOP growth.
Own your future.
"That's A LOT of Money in my ESOP Account!"
History of the Lewis ESOP
In 1938 the company started as Monroe Tree Surgeons founded by the Terry family. From 1938-1992 the company went through significant growth and multiple acquisitions. The Terry family wanted to retire from the business but cared so much for the employees they wanted to turn the company over to them. In 1998, management and non-union employees purchased 30% of the company stock and formed an Employee Stock Ownership Plan (ESOP). And in 2000, management and non-union employees purchased the remaining stock and became an 100% Employee Owned Company.
4000+
team members
>60%
diverse ownership
85
years
100%
employee-owned
(for non-union employees)
What is an Employee Stock Ownership Plan? (ESOP)
An ESOP is a defined contribution retirement plan.
What are the requirements to receive an allocation to my account:
You must be at least 21 years of age.
You must work at least 950 hours in a calendar year.
How much will I receive?
A percent of your wages will be allocated each year based on company performance.
How many years do you need to work to be fully vested?
6 Years
What is the cost to employees to participate in the ESOP?
The company makes contributions to employee accounts at no cost to the employee!