An Employee Owned Company

Integrity, Teamwork, Quality Craftsmanship and Entrepreneurial Spirit. These are the core values that define Midwest Mechanical Contractors. These are the qualities that define a great Employee Stock Ownership Program (ESOP).

What is an ESOP?

The Employee Stock Ownership Program (ESOP) allows eligible employees to share in the ownership of the company at no cost to the employee. This is achieved by investing employer contributions to the plan in common stock of the company.

Our ESOP plan provides our employees with an excellent opportunity for a long-term investment plan that is funded on a pre-tax basis. The goal is to hold the stock, which should increase in value as our company continues to grow. This provides a direct link between company interests and employee interests, given employee owners an incentive to help the company prosper.

Midwest (MMC Corp) ESOP Highlights

The ESOP plan became effective January 1, 1999.
The ESOP plan became 100% employee-owned as of December, 2002.
The ESOP owns 100% of MMC Corp, making the company 100% employee-owned.
On June 9, 2009 MMC Corp, parent company of Midwest Mechanical, is named one of the TOP 100 Employee Stock Ownership Plan (ESOP) companies in the United States by The National Center for Employee Ownership (NCEO).

Contributions and Stock Valuation

The Employee Stock Ownership Program (ESOP) accounts for our employees have two components:

Employer-matching 401(k) contributions. The company will match 100% (dollar for dollar) on contributions you make in the 401(k) plan up to 3% of your pay. The company will match 50% of your contribution on the next 2% of your pay.
Discretionary Contributions, which are a reflection of overall company performance. The company may contribute to your account in the form of cash or stock, either one.

Since we are an employee owned organization our stock is not publicly traded therefore our stock valuation is done annually by an independent appraisal company or valuator.

Midwest Multimedia

2009 Annual ESOP Video

Learn what Midwest employees have to say about the organization and the ESOP.

» Click to view video

Eligibility / Enrollment

Generally, all employees of the company and its subsidiaries who are paid as employees (receive W-2's) are eligible for the plan. However, leased employees; individuals who are deemed by the Company or its affiliate to be independent contractors; certain union employees; and employees who are non-resident aliens with no U.S. source of income may not participate in the plan.

Communications & Advisory Committee

The MMC Corp ESOP has a Communications and Advisory Committee that meets quarterly. The associates of MMC Corp and its subsidiaries have elected representatives that serve three-year terms on a plan advisory committee. The purpose of this committee is to:

Understand the ESOP and communicate this information to our company participants.
Promote and encourage an employee-ownership culture among our peers.
Become a conduit to communicate ideas between the ESOP participants and the Officers' Committee and the Board of Directors.

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