The following are some frequently asked questions about ESOPs and participation in an ESOP. If you still have questions after reading this information, feel free to email your questions to

  1. What is an ESOP?
    An ESOP, or Employee Stock Ownership Plan, is a retirement plan regulated by the Federal Government. It is a Trust designed to invest in the stock of a company on behalf of its employees. It allows employees to participate in beneficial ownership without putting any money in.
  2. How much do I have to pay to become an owner?
    As participants in the ESOP, eligible employees participate in beneficial ownership without putting in any of their own money.
  3. How do I get this benefit?
    Each year, the number of shares of stock going into your account* is based on your wages (W-2 earnings) compared to the earnings of all of the other participants.
    *Limited to eligible participants (those who worked 1000+ hours/plan yr.)
  4. What is a Plan Year?
    An ESOP Plan Year is the time period which currently runs from October 1st through September 30th each year. You are considered a participant and credited with a year of service for each Plan Year that you work at least 1000 hours.
  5. How do I receive money for my ESOP shares?
    Remember the ESOP is a Federally Regulated retirement plan. There are two ways to receive money for the value of your ESOP account:
    1. Retire (age 65), die, or become permanently disabled. You will begin receiving payments in the next Plan Year after your retirement, death, or disability.
    2. Leave the company for any reason. You must meet the plan requirements regarding distributions, which include a five-year break in service.
  6. Can I borrow against my ESOP account if I have a hardship?
    There is no hardship provision to allow for early distributions from your ESOP account.
  7. What if I leave my job at Miller's?
    • You will continue to have an ESOP account until the vested amount is distributed according to the distribution guidelines.
    • The value of your account will continue to change based on the current stock price.
    • While you have an ESOP account, you will continue to have an annual statement for your account mailed to you. (To ensure ongoing communication regarding your ESOP account, please keep your address updated.)
    • If you return to employment with Miller’s Health Systems within 5 years of terminating, you will pick up with your ESOP account vesting schedule at the point you left off.
  8. How can I get answers to questions about the ESOP?
    Current employees can go to the PayCom ESS portal; see the Office Manager or Administrator at your MHS facility for further assistance.

    Past employees can email questions to or call the ESOP Question hotline at 574-267-7211, ext 122.