The GH ESOP Chronicles

Chapter Six

MISSION RECAP: CHRISTOPHER'S KITCHEN

This past winter 2022, we helped our neighbors by donating six large boxes of shelf-stable and individually wrapped food packages to Christopher’s Kitchen to feed kids and parents at UPMC Children’s Hospital. Thanks to all who gave!

THE PLAN YEAR

As we get closer to the end of the 1st quarter of 2023, it’s a good time to remind GHers of The Plan Year, which begins on January 1 and ends on December 31. When a Plan Year ends, three important things happen:

The Board of Directors approves the recommendation of what to contribute to the ESOP trust account.
The company’s value is determined in the form of a stock price.
Statements are generated and made available to participants declaring the dollar value each employee has.

These statements are estimated to be available by the end of Spring or early Summer within the online ESOP portal.

ESOP ONLINE

If you have any questions about your ESOP, there are two online resources:

menkeesop.com where you can log in to check your account value and your vested amount and make your beneficiary designation.
esop.garrisonhughes.net which answers some of the top questions asked about the GH ESOP.

FUN FACT

The ESOP helps diversify your retirement investments and portfolio risk. Since it is separate from your 401(k), if your 401(k) goes down, that doesn’t automatically mean your ESOP goes down.

ESOPs are designed to make employees feel more tied into their organization. As a team, we can all help our ESOP thrive. Here is a link to how we as employees benefit.