2002 New England ESOP Association's
"Company of the Year"!
A Family & Employee Owned Maine Company Serving the People of Central Maine Since 1972
Employee Ownership &
Benefits
A favorite benefit of many of the personnel
at J&S Oil, is the benefit of Employee Ownership.
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In 1995, the Babb
family decided to institute an ESOP (Employee Stock Ownership Plan).
It is a qualified retirement plan, through which the company purchases stock
from the major stockholders (the Babb family) and sells the stock to a
retirement plan for its employees. Through the ESOP, the employees of J&S Oil, who meet the plan qualifications, receive stock in their company at no cost to them! Employee Ownership has had a very positive effect on the attitudes of our people and on the way they feel about their work. If you would like more information on becoming an Employee Owner of J&S Oil, please visit our Career Opportunities page. If you would like more information about ESOPs, please click on one of the ESOP Association Web Site Links, seen below. |
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Click logo to link to National ESOP Association Web Site |
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Click logo to link to New
England ESOP Association Web Site |
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Josh Weymouth |
Josh Weymouth
is J&S Oil's New Josh was voted "ESOP Employee Owner of the Year", by his peers, in recognition of his support of his company and his ESOP. Josh had been with the company a mere two years, when he received the nomination. Josh is a hard worker and a true team player. In the winter, Josh works very long hours, sacrificing time with his wife and two young children, to be sure the customers are taken care of. During the off-season, Josh does odd jobs and maintenance throughout the company. He takes care of his equipment and takes pride in the appearance of his delivery truck. He trains new drivers and offers to help wherever needed. Josh participates in all ESOP related meetings and is a proud employee owner. |
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Another qualified pension program, offered to associates of J&S Oil, is a 401-K plan. Eligible employees who enroll in the 401-K may make pre-tax contributions of between 1% and 15% of their gross weekly income. J&S Oil provides a percentage match, to those contributions. J&S Oil's match is 25% - for the first 5% of your weekly contribution. Enrollees in the 401-K may choose from an established list of Mutual Funds, in which to invest. These funds vary in estimated risk and rate of return. There are funds for both the aggressive and the conservative investors. Once an account is established, enrollees receive a personal identification number (pin) and can make changes to their investments online or over the phone. |
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CLICK HERE FOR INFORMATION ABOUT CAREER OPPORTUNITIES
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EMPLOYEE OWNERSHIP
J&S
Oil, Inc. Corporate Office ~ 867 Western Avenue, Manchester, Maine 04351
Phone: 1-207-622-1609 Fax: 1-207-622-7587