MPD ESOP - What is it?
The MPD, Inc. ESOP, like approximately 6,500 other ESOP companies nationwide, provides a way for its employees to have a beneficial ownership in the Company. Each year, ESOP stock is allocated to employee participant accounts. A value is established for the stock and that value is dependent on the overall success of the business. This way, the efforts of each employee can have a direct and lasting effect on his/her own future benefits.
MPD, Inc. is a member of The ESOP Association and the National Center for Employee Ownership (NCEO) and has been recognized for its efforts in communicating the ESOP concept to its employees and educating them on its value.
Over the years, MPD has won several first-place awards in The ESOP Association's coveted Annual Award for Communication Excellence (AACE) competition.
In 2001, MPD, Inc. received the Group Excellence Award by The ESOP Association's Ohio/Kentucky Chapter and in 2002 it was honored as Company of the Year by the Ohio/Kentucky Chapter.
MPD, Inc. employees attend a variety of regional and national workshops, seminars and conferences throughout the year to stay abreast of issues that affect the ESOP or learn new information about administrative and regulatory topics.
In addition, several employees have spoken at regional and national ESOP programs.
MPD, Inc.'s Employee Stock Ownership Plan has been and will continue to be a great benefit to both the employees and the overall financial health of the company. Employees benefit from ESOPs by receiving retirement benefits. To the employee, the ESOP is much like a 401K with two major advantages in that the employees do not contribute their own money towards the ESOP "retirement plan", and the valuation of each person's shares is not directly tied to the bull and bear markets of public trading. The health of the economy does affect ESOP and non-ESOP companies alike, however ESOP stock valuation is directly tied to overall company performance, giving each employee the ability to work towards a positive outcome.
The company benefits in that employees feel a greater sense of job security, by feeling more engaged and committed to the company's success. As such, employees reap more financial rewards for their hard work and commitment.
www.esopassociation.org or www.nceo.org or contact any member of the MPD, Inc. ESOP Participants' Committee at ESOPParticipantsCommittee@mpdinc.com.