Allentown PA – March 1, 2016 Andesa Services has implemented an Employee Stock Ownership Plan (ESOP) allowing employees to share in the ownership benefits of the 33-year-old company. The ESOP is an employee benefit plan which grants employees shares in Company stock and rewards the staff for innovation and strong performance. The ESOP is a supplement to the company’s existing 401(k) plan and helps the Company attract and retain experienced staff along with facilitating succession planning.
“The ESOP allows Andesa to enhance our rewards to those who play a critical role in our success – our employees,” states Ron Scheese, Andesa Services President and CEO. “I am grateful for our employees who have always acted like owners, daily putting Company ahead of self and work tirelessly toward the success of Andesa. The ESOP benefit recognizes that effort and provides for a greater ability for the organization to preserve its vision and values.”
The formation of this ESOP enhances a culture that is ever-apparent in the Andesa footprint. Employee ownership promotes participation and leadership on every level for the more than 125 employees of Andesa Services and helps the Company maintain the unique Andesa culture into the future. Andesa employees have now joined the ranks of the nearly 10,000 other employee-owned companies throughout the United States.
About ANDESA SERVICES
Andesa Services provides comprehensive, integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers. Andesa began as a pioneer in the field of COLI/BOLI policy administration. Today, more than 30 years later, we provide seven of the top 13 life and annuity carriers and several top brokers with a comprehensive suite of services backed by decades of proven, practical expertise in the life insurance industry. Andesa’s highly experienced team of U.S.-based professionals is made up of devoted client advocates who help insurers large and small save time, reduce risk and tap unrealized value.
To learn more about Andesa visit www.andesaservices.com and follow the Company on Twitter and LinkedIn.