EMPLOYEE STOCK OWNERSHIP PLAN "ESOP"

 
 

An ESOP (Employee Stock Ownership Plan) is a benefit plan which makes the employees of a company beneficial owners of stock in that company. An ESOP is a retirement benefit. ESOP shares are allocated and not purchased.

Locke Supply associate owners benefit financially from the company operations and success. Each year, the associate owners receive shares of the company. Each owner has an individual account and the added shares are in addition to regular wages.

Making employees owners increases dedication to the company, improves work effort, reduces turnover, and generally brings a more harmonious atmosphere to the company. Research has shown that giving workers a significant stake in their company improves employees' attitudes towards the company. The improved attitudes towards the company translates into bottom line improvements.

Contact the Human Resources department if you are interested in becoming an associate owner at Locke Supply!

RETIREMENT PLAN 401(K)

This plan allows eligible Associates to save a portion of their annual pre-tax compensation for retirement.

GROUP HEALTH, DENTAL AND VISION

Locke Supply provides full time Associates and their eligible dependents with health, vision and dental coverage at a minimal cost. Premiums will be deducted from Associate's payroll check.

ASSOCIATE PURCHASES

Full Time Associates who have worked for the Company for 90 days or more may purchase merchandise at attractive prices for their own personal home use only.

LIFE INSURANCE

All full time Associates are also eligible for group life insurance. The company pays the entire premium.

LONG / SHORT TERM DISABILITY

All full time Associates of Locke Supply are eligible to participate in the long/short-term disability plan. The company pays the entire premium.

HOLIDAYS

Full time Associates are eligible for company paid holidays if they have been employed by the Company for 90 days prior to the holiday. Locke Supply generally observes the major holidays.

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