Lighthouse is Proud to be Employee Owned
What does that even mean?
Stands for: Employee Stock Ownership Plan
$ ESOP is a FREE retirement plan.
How can I increase my ESOP return?
$ Your ESOP will accrue shares over time and will be paid out when you leave the Lighthouse in accordance with the payout schedule contained in your Summary Plan Description.
$ The longer you work here, the more shares you have.
$ The more profitable the Lighthouse is, the more your shares are worth.
$Bring ideas to management on ways to cut costs or ways to improve efficiency.
How long before I start seeing returns?
$ After 1,000 hours of service with the Lighthouse you are enrolled.
$ This is an investment that grows over time and is new to the Lighthouse. Other ESOP companies have reported that they started seeing bigger gains after roughly 5 years in the program.
$ A 1997 Washington State study showed that ESOP employees had 3x the retirement assets then comparable non-ESOP companies.
Detailed information about ESOP!
E$OP Committee Members: