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Tunnell is 100% employee-owned, meaning all Tunnell company shares are held within the ESOP (Employee Stock Ownership Plan). Today, there are over 300 participants in the Tunnell ESOP. ESOPs are a retirement benefit plan that provides participants with shared company ownership. The plan is fully funded by annual employer contributions. Tunnell's ESOP has an external Trustee who acts in the best interest of the participants. They hire and oversee the valuation firm that conducts the annual valuation for its shares. Although ESOPs are highly regulated, technically complex retirement plans, Tunnell continues to provide internal participants with education and what it means to be a beneficial shareholder in an employee-owned firm.
For Tunnell’s Board of Directors and leadership team, ESOPs play a role in preserving the company’s mission, ownership culture and legacy along with its ability to support the retention of key employees while minimizing taxes. It provides the structure for governance with ESOP being the shareholder of all the company’s’ shares.
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