What is an ESOP, & why does it matter?
ESOP stands for Employee Stock Ownership Plan. Our employees are the owners of Inline Electric Supply. Every full-time employee and many part-time employees have a direct path to ownership of company stock at no cost to them.
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As a locally owned company, Inline Electric is more invested in the well-being and development of the community. The employee-owners of Inline Electric have a personal stake in our company's success and our customers' satisfaction. By being employee-owned and locally owned, we provide personalized, attentive customer service, and build strong, long-term relationships with our customers and the communities we serve.
What is the Vesting Schedule?
All ESOP participants have the same 6-year vesting schedule based on your work anniversaries (or years of service). Our vesting schedule begins on your hire date. Every year that you work at least 1,000 hours in that 12-month period counts as one year of service. After six years of service, you will be 100% fully vested.
401k
Employees are eligible to begin participating in the 401k program after 6 months of employment. Inline will match contributions dollar for dollar on the first 3% of your salary, then $0.50 on the dollar for the next 2%. The 401k benefit is administered through Fidelity.
