Anyone know anything about ESOPs?

Littledeer84

For mobile: Anyone know anything about ESOPs?

If your company participates in an employee stock ownership plan, what happens when you leave the company? Do they buy stock back from you? Do you have to put the proceeds in a retirement fund or else pay a penalty?

Just wondering...

nancy30005

Is it a employee stock purchase plan? Money comes out of your paycheck and you get it at a reduced price? If so, it's yours. You bought it, you own it. Depending on how long and if there was a profit, there could be tax implications. 

Did th

bearfootz

Do they have a vestment period? I think at our company you had to stay three years to be vested and take it with you. 

Littledeer84

I know embarrassingly little about it. I do know that I am 100% vested. Every year they give us a certificate that tells us the value of our stock. But I am not buying it, I guess it is a perk of employment? That is where I get confused - is it mine to ta

nancy30005

So was it a one time gift, or do they keep adding to your stash? 

My old company was three years as well, so you might be looking at partial ownership.

Maybe you signed something once you received it?
 

Littledeer84

nancy30005:

So was it a one time gift, or do they keep adding to your stash? 

My old company was three years as wel

nancy30005

Sounds like you're vested. I don't want to state I'm 100% correct, but once your employment ends, you can sell the shares for cash, or roll them over into a retirement account.

Check your statement and see if there's a company holding your shares

Littledeer84

nancy30005:

Sounds like you're vested. I don't want to state I'm 100% correct, but once your employment ends, you can sell the