ESOP and Benefits
At Cerris, we think like owners and own a stake in our success.
We are a 100% employee-owned company, meaning each of us has a vested interest in the success of our teammates and clients alike. Annually, at no cost to the employee other than sweat equity, shares of company stock are allocated to participant accounts. Employee ownership means each day we come to work, we truly care about the person next to us achieving excellence and the people coming behind us reaching even further than those before them. It means constantly thinking about training your replacement and treating your partners as clients for life. Employee ownership means we care about how each of the offices in our group of companies is doing, and we share best practices across the country. It’s a better way of doing business and a camaraderie that is second to none.
What is an ESOP?
An ESOP (Employee Stock Ownership Plan) is a vehicle by which employees can share in the ownership of the company. In addition to the 401k plan, the ESOP is a significant retirement benefit. Employee ownership creates such a strong identification between employee and company that it translates into enhanced productivity, much greater employee retention, and, ultimately, success in the marketplace.
Benefits of being an owner include pride of ownership, a stake in the company, and a long-term investment at no cost to you. The superior performance of the company leads to financial success, which is then equitably distributed to employees.
Zero! The entire ESOP benefit is paid for by the profits of the company. Your “sweat equity” helps drive this.
Annually, the company contributes cash to the ESOP trust on behalf of all participants, including a 401k match equal to 5% of compensation if the employee contributes at least 5% to their own 401k account. This cash is used to purchase shares for participant accounts.
Must be at least 18 years old; employed by Cerris or one of its subsidiaries and not covered by a collective bargaining agreement; and entry dates are as follows: January 1, April 1, July 1, and October 1.
In 1999, 30% of the organization was purchased by the ESOP from the Sanders family. In 2002, the remaining shares were purchased, making us 100% employee-owned.
ESOP Month
October is National Employee Ownership Month. We celebrate our employee ownership all year long, but October is a time for a little extra merriment. From chili cook-offs and potato bag races to Octoberfest and pop-a-shot tournaments, we know how to celebrate this very important benefit.
Healthcare Plans
With three healthcare plan options including PPO and high deductible, our employees can decide which best fits their budgets and coverage needs. In addition to traditional healthcare plans, we offer pre-tax Flexible Spending and HSA accounts, vision care, and dental options to ensure complete coverage for our employees. Accidents happen. That’s where our voluntary disability coverage comes in. With short- and long-term options, life insurance, and accident/critical illness plans, you can be covered when the unexpected happens.
Paid Time Off
All employees enjoy personal time off to use how they wish — to travel, to recharge, or simply to relax. Our offices are closed for seven holidays so our employees can enjoy some paid time off to celebrate with friends and family. Paid volunteer hours are offered to full and part-time employees to encourage our employees to be involved in a cause they care about. Paid parental leave is available for parents after the birth or adoption of a child so our employees can enjoy this special bonding time.
401K
Investing in retirement is important to your future financial security; that’s why we offer a 401k match of up to 5% of your annual contribution. We send the 401k match straight to your ESOP account, where you reap the rewards of your sweat equity and company success.
Wellness Plan
Employees who participate in our wellness program receive discounted health insurance rates, saving money and improving health. Our Employee Assistance Program (EAP) offers free confidential counseling and resources to help you and your family during stressful or trying times. Because there’s more to wellness than just your physical health.
ESOP
Cerris is proud that 100% of our company belongs to the employees, meaning we not only share company success, but we also share in one another’s. Our employee owners receive shares of company stock in their ESOP accounts on an annual basis — and it doesn’t come out of your pocket!
Education Assistance
We are proud to support our employees in their continuing education endeavors through our education assistance program.
This link leads to the machine readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated service rates and out-of-network allowed amounts between health plans and healthcare providers.