What was the funded (unfunded) status at the end of the year 2024 for Qualifi-related benefits for Del Taco?
Del_Taco Franchise · 2025 FDDAnswer from 2025 FDD Document
. RETIREMENT PLANS
We sponsor programs that provide retirement benefits to our employees. These programs include defined contribution plans, defined benefit pension plans, and postretirement healthcare plans.
Defined contribution plans — At the beginning of fiscal year 2024, we maintained two qualified savings plans pursuant to Section 401(k) of the Internal Revenue Code ("IRC"); the Jack in the Box Inc. Easy$aver Plus Plan and the Del Taco Savings Plan. Effective January 1, 2024, the Del Taco Savings Plan was merged into the Easy$aver Plus Plan so that now we maintain one qualified savings plan. The plan allows all employees who meet certain age and minimum servic
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 58)
What This Means (2025 FDD)
According to Del Taco's 2025 Franchise Disclosure Document, at the beginning of fiscal year 2024, Jack in the Box Inc. maintained two qualified savings plans: the Jack in the Box Inc. Easy$aver Plus Plan and the Del Taco Savings Plan. Effective January 1, 2024, the Del Taco Savings Plan was merged into the Easy$aver Plus Plan, resulting in one qualified savings plan.
The plan allows employees meeting certain age and minimum service requirements to defer a percentage of their pay on a pre-tax basis. Del Taco's contributions to these plans totaled $3.3 million in fiscal year 2024.
For a prospective franchisee, this indicates that Del Taco provides retirement benefits to its employees through a defined contribution plan, with the company contributing $3.3 million to these plans in 2024. This information is valuable for understanding the employee benefits structure at Del Taco, which can influence employee retention and satisfaction.