plan, many CMI employees have seen their ESOP accounts grow substantially, often outpacing their 401(k) balances. This growth underscores the financial viability and success of the ESOPmodel at CMI and further places the company in a unique category of its own, being one of the few companies that can still provide one of the largest financial incentives for traditionally structured companies as an add-on. Looking ahead, CMI is focused on continued growth and expansion. The company is exploring new products and markets both within and outside the pool industry. “We have invested significant money into our plants in the last three years, including equipment and robotics, and we continue to strategize on expanding our physical footprint as well, in addition to adding new product lines,” Johnson explains. These recent capital investments in plant and For existing employees, the ESOP structure has proven to be a powerful retention tool, offering a sense of stability and a tangible connection to the company’s success. This dual benefit is particularly evident in the company’s high retention rates and the enthusiasm of its workforce. However, out of all the benefits, the one that stands out the most has to be the financial benefits, specifically regarding the fact that CMI holds both an ESOP and traditional 401k plan for its employees. So, while the majority of other ESOP companies abandon the 401k matching benefit for their employees, CMI has steadfastly maintained its 401(k) match from their ESOP inception, providing employees with dual equity and wealth building incentives and demonstrating a strong commitment to their financial well-being. However, even with the traditional strong 401(K) 77 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07 CONSOL IDATED MINERALS INC.
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