Founded in 1978, The ESOP Association is the national association of companies with employee stock ownership plans (ESOPs) and service providers with a professional commitment to employee ownership through ESOPs.
The Association is the leading voice in America for employee ownership through ESOPs, and devotes considerable time to creating and maintaining favorable ESOP legislation. In addition, The ESOP Association is a prime source for educational materials necessary for successful implementation and administration of an ESOP.
The Illinois Chapter of The ESOP Association is one of 18 state and regional chapters, and is among the Association’s most active and enthusiastic voices before Congress.
- The Association represents approximately 1400 ESOP companies.
- Approximately 500 of these companies are found in Illinois.
- Approximately 99% of ESOP Association members are private, closely-held companies. Approximately 99% of Illinois members are privately held.
- ESOPs exist in large and small business – 80% of Association members have less than 250 employees. In Illinios the average ESOP company has 253 employees.
- 55% of ESOP Association members report that their ESOPs have been in place for at least ten years. The average Illinois ESOP has been in place for 15 years.
- The average ownership of Association members’ ESOP is 65%. ESOP companies in Illinois are, on average, 61% employee-owned, with 35% reporting being 100% employee-owned.
Information on this sheet was obtained from The ESOP Association and the Department of Labor.