As a bargained-for employer covered by a Successful Sharing Plan (SSP), you may be eligible for the 2017 SSP award. This SSP award is ties to the employers’ efforts toward the Company’s success as reflected by the increase in stock price and by dividends declared. Specific details about your eligibility can be found in your contract.
The total value of the 2017 SSP is $294 per full-time employee. The 2017 SSP payment will be made on the November 17, 2017 or November 22, 2017 paycheck depending on your payroll cycle.
Here’s how to determine the amount of the SSP award. Each eligible employee receives an award of 150 Success Units that are multiplied by the increase in stock price during the award year, plus dividends declared during that same period.
Dividends were declared four times during the award year at a rate of $0.49 per share. The stock price declined from October 3, 2017, to September 29, 2017, resulting in no payout for the rest of the stock price component. Therefore, the calculation is 150 Success Units multiplied by dividends declared ($0.49 x 4) – which equals $294.
If you require additional assistance, please contact your supervisor or the OneStop Interactive Voice Response (IVR) at 888-722-1STP (888-722-1787), say “payroll” and follow the prompts.