ELIGIBILITY
This the number of years you have to be employed before you are added to the Karmak ESOP plan (and then you're entered in the next January 1 or July 1).
What is 1 year?
The color of money.
What is "green"?
The year in which an ESOP is put into place, productivity has been shown to improve by this single digit percentage (between 2 and 7)
What is 5%?
This is what the letters ESOP stand for...
What is Employee Stock Ownership Plan?
This is the name of the tool provided for employees to check their ESOP balance and plan for retirement.
What is ESOPOne?
This is the number of uninterrupted years of service you provide to become fully vested...
What is 6?
The age and number of years of participation when you are given the option to diversify...
What is 55 and 10 years of participation?
Name 1 of 2 government entities that regulate ESOP's in the U.S...
Who is the IRS and Department of Labor?
That is how often our company is valued...
What is annually?
This is the year Karmak went 100% ESOP.
What is 2022?
This is the amount of money you pay out of pocket annually to ESOP...
What is 0? (zero)
This is what happens to shares that Karmak purchases from exiting employees.
What is re-allocation to current participants?
ESOPs are most prevalent in this sector, and it's either manufacturing or healthcare.
What is manufacturing? (21%, healthcare, 2%)
This is the name of the Trustee who acts in exclusive interest of the trust beneficiaries (employee owners) on our Board of Directors.
Who is Kayla Adams?
This is the name of Karmak's Chairman of the Board.
Who is Joe Pereles?
The number of hours of service you provide each year to qualify for ESOP benefits that year...
What is 1000 hours?
Any of these four events allow for distribution...
What is termination, disability, death, or retirement?
One of these three states has the most ESOP companies - California, Illinois, Pennsylvania.
What is California? (CA - 753, IL - 283, PA - 259)
This is who can make a difference in the value of our company stock...
Who is everyone?
These 2 individuals first envisioned the ESOP and put it in place.
Who are Richard and Linda Schien?
Name one of the 2 entry dates when newly eligible owners can enter into the plan.
What is January 1 and July 1?
Upon retirement or exit, these are 2 options you can elect when selecting a method of ESOP distribution.
What is rollover or cash?
This is the number of new ESOPs created in the US each year (rounded to the nearest 50).
What is 250?
Name 2 of the many factors that affect the value of our company...
Any of the following: What is financial condition, revenue, profitability, history of meeting goals and forecasted targets, economic outlook of industry, nature of business, market value of similar companies?
This is the number of employee owners in the current ESOP (more than 230 and less than 240).
What is 237?