SCS Engineers, a national environmental consulting and construction firm, recently achieved a significant milestone when it completed a transaction to become 100 percent employee-owned through its employee stock ownership plan (ESOP).
SCS Engineers established its ESOP in 1986, and recently purchased a small number of outstanding shares from minority shareholders, achieving 100 percent ownership through the ESOP trust.
An employee stock ownership plan (ESOP) is a qualified retirement benefit plan that gives employees a stake in the company through stock allocation. It provides a method for the company workforce to accumulate capital for retirement at no cost to the employee.
Published in the March 2020 Edition
