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ESOP ESOP
We're an Employee-Owned Company

We're an Employee-Owned Company

Through our Employee Stock Ownership Plan (ESOP), our Associates share directly in the success they help build. An ESOP is a retirement benefit  similar in spirit to a 401(k), but instead of being funded from your paycheck, it's funded by the company and invested primarily in company stock. In other words, when you join our team, you're not just taking a job; you're building an ownership stake in a company you help grow.
Ownership changes how it feels to come to work. Our Associates have a genuine stake in the company's performance and profitability, which fosters a stronger sense of responsibility, motivation, and pride in what we deliver. It's also one of the ways we recruit, hire, and retain talented people: the ESOP provides an enhanced, long-term retirement benefit funded entirely by the company at no cost to our Associates. For the business, employee ownership supports a long-term, tax-advantaged structure and a disciplined approach to cash flow and investment, giving us a solid foundation for continued growth and success.
Each year, the company may make a contribution to the ESOP on behalf of eligible Associates. Your account can grow in two ways: through new shares added to your account, and through changes in the value of the stock as the company grows. When you retire , or in the event of death, disability, or other qualifying departure, you're entitled to receive the vested balance of your account. Because contributions come from the company rather than from your own pay, participation is a benefit you earn simply by being part of the team.

The value of ESOP stock is set through an independent, objective process. Our trustee engages an independent valuation firm to prepare an annual valuation report. The trustee then approves the fair market value of the stock each year.
Associates become ESOP participants after reaching age 21 and completing one year of service (12 months and at least 1,000 hours). Your entry date is the March 31 or September 30 that immediately follows meeting those requirements. To share in a given year's contribution, you generally need to be employed on the last day of the plan year (September 30), or have retired during the plan year under the plan's retirement definition, and to have worked at least 1,000 hours during that plan year (October 1 through September 30).
Vesting is the portion of your account that you own outright; once vested, it can't be taken away. You earn vesting service for each year you work 1,000 hours or more after entering the plan. Accounts become fully (100%) vested upon reaching normal retirement age, or in the event of death or disability, according to the terms of our plan.

Why Choose an ESOP Employer?

FAQs

Associates become ESOP participants after reaching age 21 and completing one year of service (12 months and at least 1,000 hours). Your entry date is the March 31 or September 30 that immediately follows meeting those requirements
Each year, eligible participants receive a portion of the company's contribution. Your share is based on the ratio of your compensation.
Vesting is a means whereby employees gain a non-forfeitable right to the stock in their account after a certain amount of time. It is a means to ensure that those employees who with long term commitment to Caltrol will gain the most benefit from stock ownership.
Once you have met the vesting requirements you may receive your benefits the year following retirement, disability, death or termination of your employment.
Each year you will receive a physical statement showing the amount of stock and/or cash in your ESOP account.

You can check your balance at: esopconnection.com/remason
In the unlikely event that the ESOP is terminated, you will receive your entire vested benefits and vesting will be accelerated to 100%.
Yes, ERISA provides extensive protection that is detailed in the Summary Plan Description. The ESOP must be operated at all times for the “exclusive benefit” of the participants and their beneficiaries.
No, an ESOP is an ownership plan, and all ownership carries the risk that the asset owned might decline in value. There are thousand of ESOPs in America where employees work together, in common bond and in a productive manner. An ESOP account may bring significant financial reward.

ESOP Resources