Yes, an ESOP (Employee Stock Ownership Plan) is considered a qualified retirement plan. A qualified retirement plan is a type of retirement plan that meets certain requirements set by the Internal Revenue Service (IRS) in the United States. These requirements include rules regarding eligibility, contributions, vesting, and distribution of benefits. An ESOP is a unique type of qualified retirement plan that allows employees to become owners of the company they work for by acquiring company stock. The company contributes shares of its stock to the ESOP, and the shares are allocated to individual employee accounts based on factors such as compensation or length of service. When employees retire or leave the company, they can sell their shares back to the ESOP or to the company. The value of the shares is determined by the market value of the company's stock. ESOPs offer several potential benefits, including tax advantages for both the company and the employees, as well as a way for employees to build wealth and share in the company's success. However, it's important to note that ESOPs may not be suitable for every company or every employee, and it's always a good idea to consult with a financial advisor or tax professional to determine the best retirement plan options for your specific situation.