300 Stewart’s Ambulance Service (NH) Employees Enter Employee Stock Owner Plan

A Stewart's Ambulance Service ambulance is parked in front of a lake.
Photo/Stewart's Ambulance Service

Stewart’s Ambulance Service, an emergency medical services team in New Hampshire and Maine, announced their transition to a first-of-its-kind employee stock ownership plan (ESOP).

This model will give all employees the opportunity to become active stakeholders in the company, ensuring the quality of Stewart’s Ambulance Service for years to come.

“EMTs have a deep personal investment in the work that they do – and now they have a financial investment in the ownership of the company as well,” said Justin Van Etten, executive chairman of Stewart’s Ambulance Service. “It has long been a dream to transition Stewart’s to this model and I am thrilled that we are achieving it.”

The ESOP model provides all employees who work at least 1,000 hours annually with stock shares and benefits based on seniority and position within the company. This fully-funded plan occurs over the duration of employment and builds separately from an employee’s 401k, which is still matched. ESOPs require no out-of-pocket contribution from employees and pay dividends when the company performs well.

“There is no Stewart’s without the employees that keep us going, and this ESOP is a well-deserved recognition of that reality,” said Stacy Meier, Executive Director of Stewart’s Ambulance Service. “Historically, private EMS workers’ retirement options have lagged far behind the public sector. We’re so proud to be able to help guarantee our workers can retire comfortably at the end of their careers.”

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