If you notice some extra smiles on our partners’ faces, it’s because they are now receiving their statements from our Employee Stock Ownership Plan, or ESOP. Stewart’s Shops has made a $13.3 million contribution to the plan, which is an additional $4 million over the previous year.
Stewart’s employees own nearly 40% of the company through “Profit Sharing,” which is funded 100% by the company, and provides long-term financial security. It’s why employees are called ‘Partners.’
The company contribution equals nearly 20% of a partners’ pay in 2014. In addition to the ESOP contribution, partners will see about 15% growth on their existing ESOP accounts, as Stewart’s Shops continues to grow.