CONTRIBUTING EMPLOYEE OWNERSHIP PLAN

3 Months Ended

Mar. 31, 2024

NOTE 13. CONTRIBUTING EMPLOYEE OWNERSHIP PLAN

The Contributing Employee Ownership Plan (CEOP) is a defined contribution plan available to essentially all domestic employees. We provide a contribution to an individual retirement contribution account (Company Contributions) maintained with the CEOP equal to an amount between 5.0% and 7.5% of the employee’s eligible compensation. Employees generally vest in the value of the Company Contribution according to a schedule based on service. Participants vest 50% after 2 years of service and 100% after 3 years of service.

We also match a percentage of our employees CEOP contributions (Company Match), which are invested in the same investment allocation as the employee’s contributions. Employees immediately vest in company matching contributions.

Our contributions to the CEOP were as follows:


	Three Months Ended March 31,
		2024		2023
CEOP Expense		($ in millions)
Company Contribution		$	10.6	$	11.6
Company Match		3.6		3.7
Total expense		$	14.2	$	15.3