After over 30 years of ownership, EEI’s founder, Peter Sabeff, made the decision to sell his company to a group of individuals who share his vision and commitment to the company, its services and its clients – the EEI employees!
Effective December 29, 2017, EEI became a 100% employee-owned company under the EEI Employee Stock Ownership Plan (ESOP). This marks a major milestone in EEI’s history, which is only made possible by Pete’s faith in his team and desire to open the firm’s ownership to those who helped him build a successful company – the same people who continue to shape its future. While the leadership of the firm, including Pete’s role as President, remains unchanged, the rewards that result from ownership are now shared by everyone on the EEI team.
By aligning the incentives of the firm’s owners with its employees (now the same), employee-owned organizations tend to experience increased…
- Commitment to clients
- Project quality and value
- Organizational performance
- Stock value
The benefits of an ESOP for our employees…
- Additional benefit at no cost to the employee!
- Increased retirement savings. ESOP account balances usually 3 to 5 times larger than average 401(k) account balances.
- No need to “buy in” as required for traditional ownership. Ownership earned over time.
- Standardized process for turning ownership into retirement funds.
- Tax-deferment on both earned ownership and the increased value of that ownership until retirement age.
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