Information for Co-Owners & Future Co-Owners of Ocaquatics Swim School (March 2024)

The Employee Ownership Plan at Ocaquatics

Ocaquatics is 100% employee owned. This plan is designed to keep Ocaquatics under the ownership of its team members, ensuring that the company honors the contributions of past co-owners, improving the lives of current co-owners, and providing an opportunity for future co-owners. Check out our EOT Pledge HERE.

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Who Can Become an Owner?

Anyone working at Ocaquatics who has worked 2,500 hours becomes a co-owner. If a qualified co-owner leaves and returns later, then they can regain their co-owner status after an additional 1,000 hours of work. However, if a co-owner has to leave their job due to immigration regulations and then comes back, they’re not required to meet the 1,000 hour requirement again.

What Are My Profit Sharing Rights?

After Ocaquatics pays its bills and sets aside money for reserves and future growth, it shares any remaining profits with co-owners. Your share of the profits is based on how much you've earned while being a co-owner. Earnings before becoming a co-owner don’t count towards this calculation. Team members who were co-owners and left the company will receive a share of the profits based on their earnings during their co-ownership period. The company’s board decides how these profit shares are distributed each year. As of March 2024, the current CEO, Miren Oca is the board chairperson. Membership on the board is subject to change in the future.

Do I Have a Voice in the Company?

Absolutely! The company's management is legally bound to make decisions in the best interest of the team members because they work for you. Should you desire more information or wish to contact the trustee, you can email trustee@ocaquatics.com. You can request that your communication with the trustee remains confidential and anonymous.

What Information Will I Receive?

As a co-owner, you're entitled to an annual report detailing Ocaquatics’ financial performance.

Are There Additional Benefits?

Yes, the company aims to grow and create more jobs for co-owners. It also seeks to maintain its current benefits package, which includes access to: 

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• comprehensive health coverage (mental, medical, dental, and vision care)
• insurance coverage (accident, cancer, disability, and hospital stay)
• an Employee Assistance Program (EAP) for mental health counseling, financial advice, legal consultations and more
• internal mentoring programs
• discounted swimming lessons for your immediate family members