What is an ESOP
D&D Roofing and Sheet Metal, Inc. has been 100% Employee Owned since 2007.
An Employee Stock Ownership Plan (ESOP) is a retirement plan. D&D Roofing contributes its own stock to its employees. The plan has an account for each employee. With an ESOP, you never hold the stock while still employed with the company. If an employee is terminated, retires, becomes disabled or dies, the plan will purchase the shares of stock in the employee’s account, and the employee receives the money.
D&D Roofing provides our employees with an ownership interest in the company. There are no upfront cost to the employees. Shares are given to employees, and are held in an ESOP Trust until the employee retires or leaves the company. The shares are then bought back by the company and the Employee receives money for their shares earned.
In an ESOP, Employees do not pay taxes on the contributions until they receive a distribution from the plan when they leave the company. They can roll the amount over into an IRA or other qualified plan, or take it as cash.
D&D Roofing believes that Employee Ownership increases production and profitability and improve Employees’ dedication and sense of ownership. You are an Employee Owner. When the company does well, the stock price does well, and YOU do well. We own stock in a single company, OUR company.
For more information on the ESOP, please feel free to contact us.
D&D Roofing and Sheet Metal, Inc. belongs to the following ESOP Organizations:
Both websites offer a lot of great information on what it means to be an ESOP.