What are the eligibility requirements for Camp Margaritaville employees to enroll in the 401(k) retirement plan?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
Employees are eligible to receive benefits under the 401(k) retirement plan of the Company. Participation in the plan is voluntary. Employees are eligible to enroll after one year of continuous service (minimum 1,000 hours worked) and if they are age 21 or older. Enrollment occurs twice per year in January and July. The Company provides a statutory matching contribution equal to 100% of all participant contributions up to the first 3% of compensation and 50% of participants' contributions up to the next 2%. Participants are immediately vested in their salary deferral contributions and matching contributions plus actual earnings thereon.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, employees are eligible for the company's 401(k) retirement plan if they meet certain requirements. Participation in the plan is voluntary. To be eligible, employees must have completed one year of continuous service, which includes working a minimum of 1,000 hours.
In addition to the service requirement, employees must also be at least 21 years of age or older to enroll in the 401(k) plan. Enrollment in the plan occurs twice per year, specifically in January and July.
Camp Margaritaville provides a matching contribution to the employee's 401(k). The company matches 100% of the employee's contributions up to the first 3% of their compensation. Additionally, they match 50% of the employee's contributions for the next 2% of their compensation. Employees are immediately vested in their contributions, the company's matching contributions, and any actual earnings on those contributions.