When can employees of Auntie Annes participate in the 401(k) Plan?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
ed on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at the grant date. Volatility is based on the historical volatility of several public entities similar to the Parent as the Parent does not have sufficient historical transactions of its own shares on which to base expected volatility. Future decisions to pay dis
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, the company sponsors a 401(k) Plan. Employees of Auntie Annes can participate in the 401(k) Plan the first day of the month following their hire date, provided they are age 21 or older.
The document states that company contributions to the 401(k) Plan are based on a percentage of the employee contributions and are immediately vested. This means that employees gain full ownership of the employer contributions as soon as they are made.
For the fiscal year ended December 31, 2023, employer contributions to the 401(k) Plan totaled $3,205, and for the fiscal year ended December 25, 2022, they totaled $2,568. These figures provide a historical perspective on the level of employer contributions to the plan. Prospective franchisees should inquire about the current contribution rates and any potential changes to the plan.
Understanding the details of the 401(k) plan is essential for attracting and retaining employees. Franchisees should familiarize themselves with the plan's provisions and communicate them effectively to their staff.