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Knowledgeable Pavement Recycling Systems employees are here to answer any of your ESOP related questions.
Frequently Asked Questions
What is an ESOP?
An Employee Stock Ownership Plan (ESOP) is essentially a retirement plan. Contributions are tax deductible for the company, there are no contributions from the participants, and accounts grow without tax deferred until they are taken out.
When will I be 100% vested in the ESOP?
It takes 1 year of service with at least 1,000 hours before becoming a participant. It then takes 5 years to become 100% vested.
When did PRS become an ESOP?
We became a 100% ESOP company in 2009.
Does ESOP and vesting apply to union employees?
Absolutely. PRS is one of the few companies in the United States that extends its ESOP to union employees.
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