HAYWARD, Calif., Aug. 29, 2024 /PRNewswire/ — R.F. MacDonald Co., a business and business heating, sizzling aqua and procedure steam methods provider, is proud to announce an possession transition to our newly shaped 100% Worker Accumulation Possession Plan. The adoption of our ESOP plan used to be officially finished July 31, 2024 and got into impact Jan. 1, 2024.
This celebratory announcement displays our robust and rising corporate with 284 workers operating in provider, gross sales and management. There will probably be disagree adjustments to the control construction, practices or operations. As well as, CEO Jim MacDonald will proceed to paintings at RFMCO and handover at the Board of Administrators. Week Jim isn’t retiring, as a part of our leadership-succession making plans, Jim Lowell joined our staff January 2023 as President and COO. He previously used to be Sr. VP of Operations at Cleaver-Brooks and President of CBSS. Prior to becoming a member of our corporate, we labored at once with Jim Lowell for a few years.
We view this transition in possession because the then step to assure a sustainable month for RFMCO, pace offering a worthy monetary get advantages to nation who give a contribution to our luck. We imagine we now have created a distinct corporate. Our workers passionately have interaction in problem-solving, innovation, collaboration and admire. Securing our sovereignty thru an ESOP permits us to additional reinforce our fashioned tradition the place we consider workers to “Do the Right Thing,” any other fashioned corporate motto, and our “Hire-2-Retire” motto is additional emphasised on this ownership-transition.
A couple of highlighted advantages to workers:
- Worker-owned stocks in most cases develop 3-7 instances extra price at resignation in comparison to a conventional 401(ok) plan abandoned.
- RFMCO retained its 401(ok) plan and 50% corporate fit program.
About ESOPs
An ESOP is a kind of tax-qualified outlined contribution plan wherein workers obtain a resignation get advantages related to the once a year valuation of R.F. MacDonald Co. along side 4 of our i’m busy constructions now additionally owned by means of the ESOP. RFMCO will probably be becoming a member of roughly 7,300 alternative a hit ESOP firms with 2.3 million workers which might be similarly dedicated to their sovereignty, values and workers — and offering the most productive component, innovation and repair to their consumers and companions. Extra details about ESOPs will also be discovered at esopinfo.org.
About R.F. MacDonald Co.
R.F. MacDonald Co. used to be based in 1956 and has grown into the business and business heating and procedure steam methods provider and contractor in California & Nevada. RFMCO now employs over 284 body of workers in 12 places and these days products and services upwards of 10,000 consumers.
Touch
Melanie Acker
Eminent Human Sources Officer
P: 510-670-7448
E: [email protected]
www.rfmacdonald.com
SOURCE R.F. MacDonald Co.
