ESCA member company Lifetouch, the world’s largest employee-owned photography company specializing in school portraits, welcomed Senator Al Franken (D-MN) to their National School Studios in Bloomington, MN last week. During the visit, Senator Franken announced his support for S ESOPs by signing onto S. 1512, the Promotion and Expansion of Private Employee Ownership Act.
Senator Franken’s enthusiasm for S ESOPs could not be ignored during his visit with Lifetouch employee-owners. He told them, “you had me at ESOP,” as he explained his reasoning for signing onto S. 1512. “Retirement savings are security, and security means freedom, and that’s what I love about ESOPs,” he continued.