I work in an esop. It’s pretty cool in that we own the company in shares based on tenure, it’s not like a union though.
We don’t vote on the CEO or the board, we have third party trustees that manage the esop account.
We aren’t beholden to external shareholders, which is the absolute best part. Line doesn’t go up, it really just affects our retirement accounts, but even then our valuation takes into account stuff like cash on hand and contract stability. So… We have pretty fiscally conservative management, which is a great thing for us.
I work at an ESOP as well. Honestly I’m glad I fell into this. I have a feeling that I may actually be able to retire. If not early. Probably one of my best moves in my career.
Esops are great but they have downsides such as esop stocks earned stock value goes against your maximum tax free disbursement to 401k…
Which is like 23000 so lets say you are 60 but fucked around and didn’t do 401k in the past, now you want to hit that account with as much as possible.
Lets say you get 20k in esop stocks (which is not real money with real value) you have to count that against your tax free limit so guess what? You get to pay taxes against your real money because of your fake money.
I work in an esop. It’s pretty cool in that we own the company in shares based on tenure, it’s not like a union though.
We don’t vote on the CEO or the board, we have third party trustees that manage the esop account.
We aren’t beholden to external shareholders, which is the absolute best part. Line doesn’t go up, it really just affects our retirement accounts, but even then our valuation takes into account stuff like cash on hand and contract stability. So… We have pretty fiscally conservative management, which is a great thing for us.
I work at an ESOP as well. Honestly I’m glad I fell into this. I have a feeling that I may actually be able to retire. If not early. Probably one of my best moves in my career.
Esops are great but they have downsides such as esop stocks earned stock value goes against your maximum tax free disbursement to 401k…
Which is like 23000 so lets say you are 60 but fucked around and didn’t do 401k in the past, now you want to hit that account with as much as possible.
Lets say you get 20k in esop stocks (which is not real money with real value) you have to count that against your tax free limit so guess what? You get to pay taxes against your real money because of your fake money.