|
WinCo Foods is proud to
be employee owned!
One of
the benefits of working with WinCo Foods is our Employee Stock
Ownership
Program.
Each
employee becomes a participant in this program after:
1.
Working with
the company for 6 months
2.
Reaching 19 years of age
3.
Accumulating 500 hours with the company
The ESOP
involves a contribution of company stock to each employee’s
account based on total wages earned during the year. The
formula changes year to year, however in 2003 eligible employees
received contributions of stock into their ESOP retirement
accounts worth 25% of their total pay for the year. WinCo’s
ESOP never involves contributions from the employees; all
contributions are entirely made by the company.
How
are shares appraised?
Unlike a
publicly traded stock whose value is determined on the open
market, the per share value of WinCo's stock is appraised
annually by an independent valuation firm selected by WinCo's
ESOP trustee. ESOP stock values have averaged increases of 21.2%
compounded annually since 1985. That means an employee who
received a company contribution of $5,000 worth of stock in 1985
now has stock worth $234,000 from that one year alone.
At WinCo
Foods, employees enjoy industry competitive wages and the
appreciation of capital that comes with company ownership!
|