Stewart’s Shops announced a $13.3 million
\ncontribution to their Employee Stock
\nOwnership Plan (ESOP), which is an increase
\nof $4 million over the previous year.<\/p>\n
Stewart’s employees own nearly 40 percent
\nof the company through profit sharing, which
\nis funded 100 percent by the company, and
\nprovides long-term financial security, company
\nofficials said.<\/p>\n
The company contribution equaled nearly
\n20 percent of a pay for partners, its term for
\nemployees, in 2014. In addition to the contribution,
\npartners will see 14.9 percent growth
\non their existing ESOP accounts, as Stewart’s
\nShops continues to grow, the company said.
\nThere are 2,400 active participants in the
\nplan, the company said. The ESOP contribution
\nis available to anyone working 1,000
\nhours a year. Employees will be partially
\nvested in their balance until they reach 100
\npercent in six plan years. The balance should
\nequal about a year’s pay after six years in
\nthe plan.<\/p>\n
For ESOP participants, Stewart’s also offers
\na paid maternity program, discounted
\nYMCA gym and daycare programs, as well as
\na Make Your Own Scholarship program which
\nprovides college scholarships to partners’
\ndependents.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stewart’s Shops announced a $13.3 million contribution to their Employee Stock Ownership Plan (ESOP), which is an increase of $4 million over the previous year. Stewart’s employees own nearly 40 percent of the company through profit sharing, which is…<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[65],"yoast_head":"\r\n