factual
What were Carls' matching contributions to the 401(k) Plan in fiscal year 2023?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| Fiscal 2024 | Fiscal 2023 | ||
|---|---|---|---|
| Impairment of assets to be disposed of | $ 3,311 | $ | 2,483 |
| Closed store expenses | 2,148 | 194 | |
| Impairment of assets to be held and used | 1,044 | 444 | |
| (Gain) loss on disposal of other property and equipment | (3,503) | 512 | |
| Gain on refranchising transaction | (817) | — | |
| Gain on early termination of lease agreement associated with a financing method sale | — | (1,160) | |
| leaseback restaurant property (see Note 10) | |||
| Other losses, net | — | 1,116 | |
| Total facility action charges, net | $ 2, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls' 2024 Franchise Disclosure Document, Carls sponsors a contributory 401(k) plan to provide retirement benefits. During fiscal year 2023, Carls' matching contributions to the 401(k) Plan were $94.
It is important to note that Carls and CKE Restaurants jointly sponsor this plan. This means that the $94 contribution reflects the combined contribution from both entities.
A prospective franchisee should inquire about the specifics of the 401(k) plan, including eligibility requirements, the matching contribution formula, and vesting schedules, to fully understand the retirement benefits available to employees.
Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.