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The Basics

The ESOP Concept

Caltrol employees are employee owners, meaning they own “Shares” in the company held in individual accounts. The amount of shares held by an employee is determined by their pay. As the company increases in value, employee shares increase in value too. On the other hand, if the value of the company decreases, then employee shares may also fall in value.
As an employee owner you have a greater stake in the company and a greater opportunity to reap rewards of ownership.
Each year the Caltrol ESOP Plan is evaluated by an independent, third party appraiser. Caltrol's TPA does all required discrimination testing and issues statements. 

A “plan year” is one full year from January 1st to December 31st. Years of service are based on being employed prior to July 1 and working 1,000 hours.

As an employee owner, you can take satisfaction in knowing that your personal efforts can provide you with benefits above and beyond your regular wages.
Employee ownership tends to substantially improve corporate performance and employee financial well-being. By choosing an ESOP employer like Caltrol, the opportunity exists for your ESOP account to be significant compared to other benefit plans.
As a 15 year Caltrol ESOP Owner, I have seen the long term financial benefit to myself and other long term employees. Even better, it builds a “can do” working environment where people take pride in working together as owners to meet our customers’ needs. ESOP benefits you personally and financially, and builds a better Caltrol for our customers.
“ESOP, to me, means future, security, and peace of mind.  As an owner, I think you’re obligated to put forth your best by making sure our customers are happy and that the company is doing well now and for years to come. You put in hard work today as an employee owner and reap the rewards from that later, when you retire.”


To become an employee owner or a participant, you must be hired before July 1 and work 1,000 hours in a plan year.
Employees receive shares based on their earnings. This is called a contribution.
Vesting is a means whereby employees gain a non-forfeitable right to the stock in their account after a certain amount of time. It is a means to ensure that those employees who with long term commitment to Caltrol will gain the most benefit from stock ownership.
Once you have met the vesting requirements you may receive your benefits the year following retirement, disability, death or termination of your employment.
Each year you will receive a statement showing the amount of stock and/or cash in your ESOP account.

The Newport Group grants access to previous ESOP statements. You can check your balance at:
In the unlikely event that the ESOP is terminated, you will receive your entire vested benefits and vesting will be accelerated to 100%.
Yes, ERISA provides extensive protection that is detailed in the Summary Plan Description. The ESOP must be operated at all times for the “exclusive benefit” of the participants and their beneficiaries.
No, an ESOP is an ownership plan, and all ownership carries the risk that the asset owned might decline in value. There are thousand of ESOPs in America where employees work together, in common bond and in a productive manner. An ESOP account may bring significant financial reward.