SUN Hails (CONT’D FROM PAGE 8)
vance. If it wasn’t for SUN’s ESOP, I wouldn't have had the great retirement I have now. So now I am a very strong ad- vocate for the plan and how it works to build your future.” SUN’s expansion is sustained by calculated invest- ments. In addition to the swift payment of its ESOP loans, SUN was debt free on its newest 183,000 square foot fa- cility in five years. The ESOP gives SUN’s employees a direct stake in the decisions made by the company.
Despite all of the upsides of ESOPs, it can be difficult for employees to realize the benefits. “You can’t see it or put your hands on it,” said Dawn Marmaras, Senior Sales Coordinator at SUN. “For some employees, it is just a piece of paper until it’s real. So, we work hard to help people understand our ESOP and how it affects them long-term.”
Ron Diedeman, who has a decade-long tenure with the company and served over three years as president of SUN, strives to inform current employees on what they can expect when they retire from SUN. “When I was young, I didn’t really worry about retire- ment,” he said. “A lot of young people don't understand or worry about retirement because they don't really think that far in ad-
SUN invites employee representatives to sit in on a portion of board meetings and implements a communica- tions committee to act as a liaison between executives, the board of directors, and those on the ground floor. For employees to fully reap its benefits, they must make long-term commitments to the company. Typically, ESOP participants are vested incrementally over a number of years.
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October 9, 2023
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