The National Center for Employee Ownership (NCEO) has ranked Chantilly-based IT solutions provider, American Systems in the 100 largest majority employee-owned companies. American Systems is one of the largest of 11, 000 U.S. majority-owned Employee Stock Ownership Plan (ESOP) companies.
The American Systems ESOP plan helps workers share in the profit their work generates by allowing them to create a retirement trust fund, invested in company stock. This allows employees to both boost their own retirement savings, and help the company boost revenue and achieve business goals.
“AMERICAN SYSTEMS became an employee-owned company nearly two decades ago with the understanding that the program would contribute directly to our bottom line and also enable our employees to own a stake in the fruits of their labor, ” said president and CEO of AMERICAN SYSTEMS, William C. Hoover. “With a vested interest in the company’s success, our employee-owners are motivated, dedicated and empowered to deliver superior service and unmatched performance when it comes to helping our customers solve their most difficult challenges.”
To qualify for the NCEO Employee Ownership 100, employees have to own at least 50 percent of the company’s stock through an ESOP, Profit Sharing Trust, Stock Purchase Plan, or a combination of these plans.
The full list can be viewed here.