| History | True/ False | ESOP Facts | People | Miscellaneous | Bonus! | ||
| 100 | Which year did BostonFam become an ESOP? | Bostoninc formed the ESOP plan in 2018 | How many years of employment till an employee-owner is fully vested? | Name two ESOP committee members | What does ESOP stand for? | What forms are distributions paid out in? | 100 |
2018 | True | 6 years | Helen Linder, Sarah Dresel, Jesse Retrum, Kristal Chamberlain, Jason Christensen, Alex Wachowiak, Mary Froelich, Sasha Sobye, Becky Jensen, and Sarah Knilans | Employee Stock Ownership Program | Shares and Cash | ||
| 200 | Which two non-profit organizations merged to create the ESOP association? | An ESOP is a defined contribution plan | Which month is Employee Ownership month? | Board of directors? | What is the normal retirement age according to your ESOP document? | What is the max contribution an employer can make to an ESOP if the company's total compensation was $1,500,000? | 200 |
National Association of ESOP companies and ESOP council of America | True | October | Bill, Vinnie, and Joe Fonti | 65 years | $375,000 | ||
| 300 | What person created the first employee-owned company by leveraging the company's profit sharing plan? | ESOP companies are less likely to lay employees off compared to non-ESOP companies | What are the three conditions that all new hires must complete before entering the ESOP? | ESOP TPA | An independent appraiser provides their valuation report to who? | Shares are allocated to eligible employee-owners based on what? | 300 |
Louis Kelso | True | 1,00 hours worked, 18 years of age, and 12 months of employment | ESOP Partners | Plan trustee | Eligible compensation | ||
| 400 | Which year was ERISA established? | Employees at ESOP companies have 2.5 times greater wealth in their retirement account that participants at non-ESOP companies. | A terminated participant is 100% vested if one of the three conditions occur. What are those conditions? | ESOP Plan Trustee | What does the acronym ERISA mean? | Approximately, how many ESOP companies are 100% employee owned? | 400 |
1974 | True | Retirement, Death, and Disability | Miguel Paredes | Employee Retirement Income Security Act | Approximately 2,500 | ||
| 500 | In which year was Peninsula Newspaper purchased by the employees through a leverage profit sharing plan? | The plan trustee hires the independent appraiser | What is the minimum age for participants to become eligible for diversification? | ESOP Transaction Advisors | What is the maximum deductible contribution level an employer can make towards a tax-qualified stock bonus or profit-sharing plan like an ESOP? | What is the name of the first employee-owned company? | 500 |
1956 | True | 55 years | CSG Partners | 25% | Peninsula Newspaper | ||
| 600 | In the mid 19th century, a company set aside stock in the company for employees when they retired. Which one of these companies was a pioneer in this initiative? | The ESOP Communications Committee does NOT have a charter document | How many years of participation in the plan are required for employee-owners to become eligible for diversification? | ERISA Attorney | Which region of the country has the highest percentage of ESOP? | Which two non-profit organizations merged to create the ESOP association? | 600 |
Railway Express Agency | False | 10 years | DeWitt Ross & Stevens | Midwest | National Association of ESOP companies and ESOP Council of America |
