Investing in your Future
At Loureiro Engineering Associates, Inc., we believe that our employees are our greatest asset. We expect you to take ownership in your work, so we believe you deserve ownership in us. That’s why on January 1, 1998, Loureiro’s Board of Directors adopted the Loureiro Engineering Associates Employee Stock Ownership Plan (ESOP), allowing all eligible employees to become owners of Loureiro Engineering Associates, Inc. without having to invest their own money to purchase stock.
Here’s how it works: Company stock is held in a trust for the exclusive benefit of the Plan participants. By law, in order to qualify as an Employee Stock Ownership Plan, the ESOP must be operated at all times and in all respects in a prudent and non-discriminatory manner for the exclusive purpose of providing benefits to participants. ESOPs are generally subject to the same broad rules as other types of employee retirement plans, such as profit sharing or 401(k) plans. But there are some key differences:
- The ESOP invests in Company stock rather than in a diversified portfolio of assets.
- The Company stock is generally valued only annually at the end of the Plan year.
- There are some special rules about when and how you will receive your vested account balance.
- No employee contributions or salary deferrals are required or permitted.
Empowering Employee Ownership
Our investment in you doesn’t stop there. We are committed to embracing this mentality at every level of our business — and that means ensuring your voice is always heard. In addition to the retirement plan aspect of an ESOP, we established a committee of Loureiro employees to encourage and foster an ownership culture amongst employees. This involves providing education and communication between past and present employee owners, as well as trustees. This committee strives to promote an inclusive workplace that mutually benefits each individual and the company as a whole, and is open to any employee who wants to serve. On average, we have 9 employees representing all Loureiro offices of 12+ employees. Each member serves a minimum of 2 years along with two co-chairpersons who serve for 5 years. Joining the committee offers the ability to:
- Serve as ESOP advocates, communicating the ESOP and keeping employee ownership visible to the workforce; Make recommendations to senior leadership about various ESOP related issues;
- Provide two-way communications between employee owners and senior leadership; and
- Contribute to improve business performance and achieve the company’s strategic goals.
Loureiro is committed to our employees and their career progression with both the ESOP and 401K programs, allowing you to play a greater role in your own short-term and long-term success.
Our goal is not only to find and retain the very best talent, but also the right individuals for our special team. When starting careers at Loureiro, new employees learn and work with some of the finest, most experienced professionals in the industry. Collaborating on a variety of diverse, related projects will allow you to see how our company’s core values are instilled in every task and every individual.
Interested in joining our team? We’d like to hear from you! Apply online by uploading your resume and cover letter.
