Under what conditions are Brightstar Care employees eligible to participate in the defined contribution retirement plan?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
ction of these notes.
Notes to Consolidated Financial Statements
7. Retirement Benefits
The Company has a defined contribution retirement plan under which participants may elect to defer a portion of their compensation for which an amount may be matched at the discretion of the Company. Substantially all of the Company's full-time employees who have met the provisions of the plan are eligible to participate. The employer contrib
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 117)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the company has a defined contribution retirement plan where employees can choose to defer part of their compensation. The company may also match a certain amount at its discretion. Eligibility to participate in the plan extends to substantially all of Brightstar Care's full-time employees who have met the plan's provisions.
For a prospective Brightstar Care franchisee, this means that if they hire full-time employees, they may be eligible for a retirement plan. The amount of the employer contribution to the plan was $406,574 for the year ended December 29, 2024, and $355,516 for the year ended December 31, 2023.
It is important for a potential franchisee to fully understand the 'provisions of the plan' to determine the exact requirements for employee eligibility. Further due diligence is recommended to understand the specific details of the plan, including any vesting schedules, contribution limits, and the company's matching policy.