What were the approximate contributions made by Cicis to its 401(k) savings plan in 2023?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
e to an affiliate for these services in the amount of $583,611 and $154,418, respectively, recorded in related party payable on the combined balance sheets.
Effective January 1, 2024, the management services agreement was amended to calculate management fees at 60% other net revenue.
Note 3. 401(k) Savings Plan
The Company has a qualified cash or deferred compensation plan
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the company maintains a qualified cash or deferred compensation plan under section 401(k) of the Internal Revenue Code, allowing employees to defer a portion of their salary within the limits set by the Internal Revenue Code. Cicis may also make discretionary contributions to the plan.
In 2023, Cicis's contributions to the 401(k) savings plan were approximately $4,100. This is a notable decrease compared to the $9,800 contributed in 2022.
Prospective franchisees should be aware that these contributions are discretionary and can vary from year to year. Understanding the details of the 401(k) plan and the factors influencing Cicis's contributions can be a valuable part of assessing the overall employee benefits package and financial health of the company.