Does Benihana offer a 401(k) plan to its eligible employees?

According to Benihana's 2024 Franchise Disclosure Document, Benihana National Corp. sponsors a qualified defined contribution retirement plan, referred to as the "401(k) Plan", for its eligible employees. The 401(k) Plan allows participating employees to defer a portion of their compensation on a pre-tax or post-tax basis, contributing it to various investment options.

However, employer contributions to the plan are discretionary, meaning Benihana is not obligated to contribute. In both 2023 and 2022, Benihana did not accrue or make any employer contributions to the 401(k) Plan. This means that while the plan exists as a vehicle for employees to save for retirement through payroll deductions, there was no matching or additional contribution from the company during those years.

For a prospective Benihana franchisee, this information is relevant in understanding the benefits offered by the parent company to its employees, which may indirectly affect the franchisee's ability to attract and retain quality staff. While the franchisor offers the plan, franchisees should be aware that there is no guarantee of employer contributions, which could impact the attractiveness of the benefit to potential employees. Franchisees should inquire about the long-term strategy for employer contributions to the 401(k) plan to better understand the potential value of this benefit for their employees.