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ESOP’s
Posted on 10/27/23 at 12:11 am
Posted on 10/27/23 at 12:11 am
Anyone here have experience doing an esop transaction from the shareholder side or experience from the employee side? We’re looking at taking 1 or 2 companies down the esop path. We have a consultant helping us evaluate it but I'm curious to hear good and bad stories. I’ve learned a lot that I didn’t know and some things that were just outright wrong. These are construction based businesses. TIA
2
Posted on 10/27/23 at 9:44 am to BLM
Only experience i have is working for a company who promised we had one and then stalled when I asked for the paperwork after 2 years in.
So don't do that and you are good.
So don't do that and you are good.
Posted on 10/29/23 at 7:53 pm to BLM
One of my friends is in an esop company that is in a steady expansion mode. He has done very well over his 20 year career.
His esop funds are able to be tapped in specific times if he wants to. His funds are twice what his 401k is. At retirement he is fully paid out over 5 years.
His esop funds are able to be tapped in specific times if he wants to. His funds are twice what his 401k is. At retirement he is fully paid out over 5 years.
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