Aesop (pronounced ee-sop), the famous Greek story teller, had no knowledge of Employee Stock Ownership Plans (ESOPs). In all fairness, it would be surprising if he did as they were not recognized until the Employee Retirement Income Security Act of 1974 was passed – almost 2,500 years after his death.
Why would Aesop support ESOPs?
I reviewed some of his quotations and it leads me to believe that he may be a supporter of such plans. ESOPs address several issues that seemingly parallel quotes he had noted among his contemporaries in ancient Greece that still exist today.
It is thrifty to prepare today for the wants of tomorrow. – Aesop
Are most employee’s planning for their financial future?
Let’s look at some facts. According to the first quarter 2012 Principal Financial Well-Being Index, 67 percent of employees are very concerned about their long term financial future, but only 35 percent of employees indicate that they are saving enough money to live comfortably in retirement. Read more