Miklos Systems Inc. Wins ESOP Company of the Year Award
WASHINGTON, May 24, 2019 /PRNewswire/ -- Miklos Systems Inc. (MSI) of Fairfax, VA has won The ESOP Association's highest corporate honor—the ESOP Company of the Year Award. The award honors a company that actively participates in the employee ownership community and that demonstrates a dedication to The ESOP Association's vision of employee participation, wealth creation, and individual dignity and worth.
MIS, a software and systems engineering service provider, first established an Employee Stock Ownership Plan (ESOP) in 2006 and became 100 percent employee owned in 2011. Their ESOP Ownership Committee was launched with a charter to serve as a liaison between employees and management, provide recommendations for decisions related to the company's ESOP, and educate employees about the ESOP. The committee has been extremely successful and Miklos has excelled at educating their employees about the complex topic of employee ownership.
Corporate leadership has actively participated in The ESOP Association's local and national activities. The company's CEO serves as the Executive Vice President for Programs in the ESOP Association's Mid Atlantic Chapter. In addition to programing content, he organizes panels, participates in round table discussions, and speaks at the spring and fall chapter conferences.
Miklos Systems is a valued member of the community and supports the non-profit Food for Others P3 Program, which helps feed local children in need. In 2018, MSI donated more than 100 wreaths for National Wreaths Across America Day, and its employee owners volunteered to lay them at nearby Alexandria Cemetery.
About Miklos Systems Inc.
Miklos Systems Inc. (MIS) is a software technology company that was founded in 1993 by Betsie Miklos. As she considered retirement, Miklos wanted her employees to continue enjoying the company culture they had built together; she started selling the business to the ESOP trust in 2006. The company has been 100 percent owned by its employees since 2015.
About the Award
The ESOP Company of the Year Award honors a corporate member of The ESOP Association that demonstrates a steadfast commitment to employee ownership through its participation in Association programs, its efforts to communicate with employees, and its dedication to realizing The Association's vision of employee participation, wealth creation, and individual dignity and worth.
About ESOPs
ESOPs are a retirement plan that provides employees with a chance to share in the profits they help create. Unlike 401(k)s, ESOPs typically have no out of pocket expense for employees. ESOP companies often excel at creating engaging workplace cultures, and are far less likely to lay off their employees, according to national research. These plans can provide tax benefits for the business and the owners who sell their shares to an ESOP.
About The ESOP Association
Formed in 1979, The ESOP Association is the leading national trade association representing companies with Employee Stock Ownership Plans (ESOPs) and the professionals who provide services to them, such as attorneys, accountants, financial advisors, and professional fiduciaries/trustees.
SOURCE The ESOP Association