Sunday, December 28, 2014

RAM Employees On Tap to Become Shareholders

Posted By on Sun, Dec 28, 2014 at 11:14 AM

The new year will bring a big change to employees of the RAM Restaurant and Brewery, which has locations in Boise and Meridian, as well as five other states.

The Seattle Times reports that RAM owners announced just before Christmas that employees would be eligible for a 30 percent stake in the restaurant chain through an employee stock ownership plan. All employees who work at least 1,000 hours in a year would qualify—about half the company's 2,000 employees, according to the Times.

The ESOP would allocate stock to employees over time at no cost, based on how long they have been with the company and how much they earn. Meanwhile the ESOP gives RAM owners a significant tax incentive by making pretax annual contributions to the ESOP equal to 25 percent of its payroll.  

The Lakewood, Wash.-based chain operates restaurants/breweries in Idaho, Illinois, Indiana, Oregon and Washington. The family-owned business opened its first pub in 1971 and now has 30 restaurants.

“We think we have a great team, but maybe there are people looking for a little something else,” co-owner Jeff Iverson told the Times.

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