Becoming an owner of The Burnett Companies “Company” does not cost you anything.
You become eligible to participate in the ESOP after you have worked 1,000 hours on Burnett’s payroll in a calendar year. The only exception to this participation rule is if you are a payroller, which is an employee of a company who has been referred to Burnett for payrolling purposes but remains working at that company while being paid through Burnett.
For our staffing employees, you are considered “employed” at the end of the plan year as long as you work at least one hour in the last quarter of the year (October 1st through December 31st). Note: If you accept a “permanent” job or are terminated after October 1st, but you have worked 1,000 hours already, you would still receive credit for a year of participation in the plan.
Participating employees in the ESOP receive an annual statement of their accounts. This statement is posted to your account when you agree to receive electronic communications, or mailed, at your request, in June or July of each year. All employees become 100% vested in their stock after meeting the criteria listed above for six years.
ESOP FAQ's - Have a question about how the ESOP works or about your stock shares?
We’ve compiled a list of answers to the questions we are most frequently asked questions by our staffing employees!
Are you a Burnett Employee who would like to view the Summary Plan Description of the plan and your account?
The Summary Plan Description provides information about the Plan and the distribution of the value of your vested shares upon your termination from the Company.