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Can someone with experience with ESOPs give some advice
Posted on 9/10/21 at 2:50 pm
Posted on 9/10/21 at 2:50 pm
Long story short I'm jumping companies for a better position. (pending the formal offer)
Guy I talked to today said they have an ESOP plan. Would that work similar to a 401k where I just contribute a set amount to the plan?
Can I rollover my 401k into that?
Guy I talked to today said they have an ESOP plan. Would that work similar to a 401k where I just contribute a set amount to the plan?
Can I rollover my 401k into that?
1
Posted on 9/10/21 at 3:27 pm to Powerman
limited experience but they are two separate things. ESOP if the company chooses to offer to you, typical you have to buy shares with after tax money or the company could give you shares as a form of bonus. You would pay tax on gains when you sell stock back to company which may have restrictions as to when you can sell. as far as i know you cant roll a a pre-tax 401k into an ESOP.
Posted on 9/10/21 at 4:09 pm to ks_nola
Thanks. Guess I'll find out more. Looks like the base pay and benefits should probably be worth the jump.
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