The Parsons Employee Stock Ownership Plan (ESOP) is an important retirement benefit at Parsons.

The ESOP offers Parsons’ employees a unique opportunity to participate in a valuable employee ownership program. This program serves as an incentive for employees to work hard to help ensure the company’s success. This, in turn, provides employees the opportunity to share in the financial performance of the company.

You should consult the Summary Plan Description (SPD) or Plan Document to obtain more detailed information about the ESOP. If information contained in this website differs from the applicable provisions of the Plan Document, the Plan Document will govern. Parsons reserves the right to amend the Plan, subject to legal requirements.

The ESOP is a defined contribution stock bonus plan. All benefits in the ESOP are company funded. The assets of the ESOP are held in a trust and are invested entirely in the common stock of Parsons. Individual accounts are maintained for each eligible participant reflecting their share of the ESOP’s ownership of the common stock of Parsons.

Annually, the Parsons Board of Directors determines how much Parsons Corporation common stock will be contributed to the ESOP. An allocation is then made to participant accounts based upon eligibility, employment status, and covered compensation. Once the annual allocation is complete, participants receive a statement reflecting their individual account information, including the previous year’s allocation.

Participants are vested in their ESOP account balances based upon their length of service with Parsons and its affiliates. Once a participant becomes fully vested, there are specific criteria that must be met (for example, achieving retirement age) to receive distributions from their ESOP account.

Eligibility is based upon your employment status and length of employment. Regular, full-time and part-time employees of Parsons and its affiliates that are designated as ESOP Member Companies, begin participation in the ESOP after completing 1,000 hours of service in twelve calendar months. Your plan entry date is retroactive to January 1 of the calendar year in which you first reach the 1,000-hour requirement.

You are not eligible to participate in the ESOP if you are covered by a collective bargaining agreement unless the collective bargaining agreement provides for participation in the ESOP. Further, casual employees, employees of international subsidiaries or affiliates, and employees of certain U.S. entities or non-Member Companies are not currently eligible to participate in the ESOP.

No, participants cannot contribute to the ESOP. All contributions are funded by Parsons and its affiliates.

The ESOP is entirely funded by Parsons and its affiliates in the form of common stock.

To designate a beneficiary, log in to retirementfocus.com, and select My Account at the top of the screen. In the Beneficiary Details section, you can edit, delete, or add a new beneficiary.

Please Note

Not all employees are eligible to participate in the ESOP.

Resources

Highlights Brochure
Summary Plan Description

Contact USI

parsonsesopcommunications@usi.com
855-539-8695
(Monday thru Friday 7 a.m. – 7 p.m. CT)

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