And we’re just getting started
EV is proud to share that recently we reached an exciting milestone: we have officially distributed more than $10,000,000 to former employee owners!
If you ask 10 employee owners what an ESOP means to them, you will likely get 10 different answers. For some, it’s having their opinions heard at work or greater job stability. For others, it’s the camaraderie of working together towards a shared goal or the feeling of being a business owner.
But all 10 would likely agree on one thing: an appreciation for the financial benefits of ESOPs.
An ESOP pays distributions once employment ends, whether leaving a job or retiring. A company can pay distributions all at once (a “lump sum”) or spread payments over a few years. At EV, we’re proud to have paid out all $10+ million in lump sums, and we aim to always do so.
We don’t know for sure, but we like to think these distributions may have helped secure retirements for people who assumed they may never retire. They may have helped others travel the world, spend more time with grandkids, or play an embarrassing amount of golf. They maybe even helped some EVers feel the freedom to build a dream house or buy a dream RV.
But the benefits don’t stop at people who have left a job. As a current employee owner put it, “When I started, I didn’t understand how people could be so calm about their retirement savings. Now I get it, and I’m calm about my financial future, too.” Whether retirement serenity or the financial flexibility to spend a little more now to enjoy and improve their lives, people earlier in their careers also get to experience the value of (future) ESOP distributions.
And while we are excited about reaching this milestone, we’re also motivated to keep growing our ESOP. We look forward to the next milestone, and we’re grateful to all current (and future) EVers who will be the reason get there.
