Employee Stock Ownership Plans
In these years of graying industries, employees look ahead to their retirement years. Some pension plans provide stock or profit-sharing in the company that has employed them. This is sometimes done through Employee Stock Ownership Plans.
The 20 best-funded ESOPs in Orange County (of the 45 that exist) all have assets in excess of $1 million, led by First American Financial Corp.’s $42.7-million program. Here is a list of the top 20 plans, ranked by asset value:
Company City Western Digital Corp. Irvine Kirkhill Aircraft Parts Co. Brea Kirkhill Rubber Co. Brea Besteel Irvine Ultrasystems Inc. Irvine Santa Margarita Co. Corp. San Juan Capistrano (Trabuco Land & Cattle Co.) Saffell & McAdam Inc. Irvine Cimco Inc. Costa Mesa Fibreform Electronics Inc. Huntington Beach Odetics Inc. Anaheim Landsdale & Carr Irvine La Habra Products Inc. Anaheim Comarco Inc. Anaheim Eldorado Bancorp Laguna Hills May Equity Inc. Buena Park Superior Jig Inc. Anaheim Ropak Corporation Fullerton Ad-Tek Engineering Services Inc. Santa Ana Carl Karcher Enterprises Inc. Anaheim
Source: U.S. Department of Labor, Pension and Welfare Benefits Administration
Company Assets 1990 Employer Participants (dollar value) Contributions First American Financial Corp. 42,748,942 $3,414,865 5,581 Western Digital Corp. 9,497,651 6,530,810 2,690 Kirkhill Aircraft Parts Co. 8,785,232 0 53 Kirkhill Rubber Co. 2,034,546 6,211,592 799 Besteel 5,757,000 1,212,000 529 Ultrasystems Inc. 3,118,000 5,765,000 2,433 Santa Margarita Co. Corp. 4,065,761 932,976 Trabuco Land & Cattle Co.) 122 Saffell & McAdam Inc. 3,118,981 348,637 56 Cimco Inc. 2,862,746 150,000 697 Fibreform Electronics Inc. 2,561,675 347,622 79 Odetics Inc. 2,465,006 999,583 474 Landsdale & Carr 2,148,074 60,000 428 La Habra Products Inc. 2,061,131 175,000 80 Comarco Inc. 2,009,469 594,789 1,217 Eldorado Bancorp 1,997,371 200,000 139 May Equity Inc. 1,165,582 159,929 101 Superior Jig Inc. 1,500,284 429,655 30 Ropak Corporation 1,287,867 238,126 197 Ad-Tek Engineering 1,285,559 230,400 Services Inc. 130 Carl Karcher Enterprises Inc. 1,060,834 0 3,118
Source: U.S. Department of Labor, Pension and Welfare Benefits Administration
