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Owning our Future
The JE Dunn Employee Stock Ownership Plan (ESOP) was formed on January 1, 2010. The plan is funded with company discretionary profit-sharing contributions and company discretionary matching dollars on participant contributions made to the Dunn 401(k) Retirement Plan. Employees join the ESOP after one year of working full time at JE Dunn, and they become fully vested in the plan after 6 years.
A Culture of Rewarding Employees
“Give your employees interesting and challenging work and reward them by sharing the successes of the company with them.” This quote by Mr. William H. Dunn, Sr. holds true today, as JE Dunn Construction is both an employee-owned and family owned company. Employee ownership fits the Dunn family’s long-term philosophy of sharing rewards with the company’s most valued asset – its people.
Sharing our Rewards with Employees
Profit sharing is determined based on the company's financial performance and is a percentage of employee's eligible compensation for the year. Employees also can choose to contribute to our 401(k) and JE Dunn will match contributions up to 3% in JE Dunn company stock. JE Dunn may also make a discretionary contribution to the plan, such contribution to be allocated among eligible participants. Any discretionary company contributions are invested into the ESOP.
Employee Ownership Fast Facts
Three Times the Retirement Assests
Studies show that ESOP participants retire with 3x the assets of those in non-ESOP companies.
No tax on ESOP contributions
Contributions to the ESOP are tax-deductible. Employees pay no tax until they receive a distribution form when they leave or retire.
Higher Sales Growth
A recent study found that ESOP firms have significantly higher sales growth and higher sales than similar firms without ESOPs.
Greater Employee Stability and Retention
Studies show that companies with employee ownership are linked to greater employment stability and lower than average employee retention rates.
Higher than average employee salaries
ESOP firms on average pay employees 12% higher than the hourly wage in the comparison companies.
Employee Owners Receive More Training
Studies also show that 69% of employee owners reported that they had received formal training from their current employers in the past year compared to 42% among nonowners.