How much did Del Taco contribute to the qualified savings plans in fiscal year 2022?
Del_Taco Franchise · 2025 FDDAnswer from 2025 FDD Document
l year 2021 and forward. The statutes of limitations for California, which constitutes the Company's major state tax jurisdiction, have not expired for fiscal years 2018 and forward.
12. 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, in fiscal year 2022, Del Taco contributed $2.1 million to its qualified savings plans. These plans are maintained pursuant to Section 401(k) of the Internal Revenue Code. At the beginning of fiscal year 2024, Del Taco maintained the Del Taco Savings Plan along with another plan, but the Del Taco Savings Plan was merged into the Jack in the Box Inc. Easy$aver Plus Plan effective January 1, 2024. Now, the company maintains one qualified savings plan.
The plan allows employees who meet certain age and minimum service requirements to defer a percentage of their pay on a pre-tax basis. This type of plan is a common benefit offered by many large employers, including franchise systems, to attract and retain employees. The contribution amounts can fluctuate from year to year based on company performance, employee participation rates, and changes to the plan's terms.
For a prospective Del Taco franchisee, this information provides insight into the employee benefits offered by the company. While franchisees are responsible for their own employees' benefits, understanding the corporate benefits package can be helpful for benchmarking and ensuring competitive compensation packages at the franchise level. Knowing that Del Taco has historically contributed to employee savings plans can also indicate a commitment to employee financial well-being, which may indirectly impact franchisee operations through improved employee morale and retention.