Employee Stock Ownership Plan
The retirement benefit that gives employees ownership in the company and a stake in its future success.
What Is an ESOP?
An Employee Stock Ownership Plan (ESOP) is a retirement benefit that gives qualified employees ownership interest in the company in the form of company stock. NCS contributes shares to eligible employees at no cost to them. Employees do not invest their own money to participate. Over time, shares are allocated to each participant’s ESOP account, and the value of the account grows as the company grows. When an employee retires, they cash in their vested shares for financial compensation.
In short, an ESOP is a long-term wealth-building retirement benefit that rewards employees for helping the company succeed.
Employee Ownership At Newcomer Concrete Services
At Newcomer Concrete Services, our people are the foundation of our success. That is why we made the decision to become an Employee Stock Ownership Plan (ESOP) company, ensuring that the employees who build our projects also help build the future of the company.
NCS has always believed our employees are the true engine that drives our success and reputation. We chose to transition to an ESOP to reward hard work, loyalty, and dedication while preserving the legacy of the company for future generations.
Employee ownership allows our team to share directly in the success they help create. It strengthens our culture, encourages long-term commitment, and ensures that NCS remains focused on quality, service, and value long after its principal owners retire.
What Does This Mean for Our Employees?
Extra Retirement Security
Employees receive FREE shares of company stock each year, on top of the 401(k) match.
No Out-of-Pocket Cost
Shares are contributed automatically—employees don’t need to invest their own money.
Compounding Growth
The value of the account grows not only from yearly allocations, but also from increases in the company’s share price when we do well.
Shared Success
Since Newcomer Concrete Services is employee-owned, everyone benefits when the company performs well.
Long-Term Impact
Working at an employee-owned company can significantly increase retirement savings and financial security, building long-term wealth for you and your family.
What Are The Eligibility Requirements?
- You must work at least 1,000 hours in the current year
- You must be at least 21 Years old
ESOP VS 401(K)
- ESOP’s and 401(K)’s are types of retirement accounts
- Have tax advantages
- NCS contributes money to the plan each year
Differences
- Employees get their ESOP contributions for FREE, without contributing any of their own money
- ESOP’s give employees the ability to impact their retirement
- ESOP invests in company stock – making you an OWNER – not just an employee.
What Is Vesting?
Vesting tells you when the shares you’ve been allocated become yours. You will be 100% vested after 6 years of service. The longer you stay, the more shares you accumulate. This helps you build long-term wealth and the life you want!
How Do I Think Like An Owner?
Here are ways to think and act like an owner every day:
- Work Safely – Safety is everyone’s responsibility.
- Do Things Right the First Time – Quality saves time, money, and reputation.
- Go the Extra Mile – Even if it’s not “your job,” step in to help. Owners don’t pass the buck.
- Maintain a Positive Attitude – Positivity fuels collaboration and progress.
- Work as a TEAM – We succeed together, not alone.
Ownership mindset = protecting, improving, and strengthening what we share.