Do ESOPs work in Indiana?  Yes they do!  A review of DOL5500 form data for Indiana companies organized as ESOPs (DOL code 2O, 2P, or 2Q) for the years 2014 to 2023 identifies the following trends…

• Number of ESOPs increased from 174 in 2014 to 194 in 2023, a 11.7% increase.
• The number of total participants increased from 128K in 2014 to 188K in 2023, a 46.9% increase.
• Plan assets increased from $12.5B in 2014 to $25.8B in 2023, a 106.3% increase.
• The average ESOP account balance increased from $97.6K in 2014 to $137K in 2023, a 40.4% increase.

Indiana ESOPs help generate wealth for our citizens and aid in funding retirement.  Let’s make more Indiana ESOPs!