What was the obligation at the beginning of the year 2024 for Qualifi-related benefits for Del Taco?
Del_Taco Franchise · 2025 FDDAnswer from 2025 FDD Document
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, Del Taco maintained the Del Taco Savings Plan, a qualified savings plan pursuant to Section 401(k) of the Internal Revenue Code. Effective January 1, 2024, the Del Taco Savings Plan was merged into the Jack in the Box Inc. Easy$aver Plus Plan.
The plan allows all employees who meet certain age and minimum service requirements to defer a percentage of their pay on a pre-tax basis. Del Taco's contributions under these plans were $3.3 million in fiscal year 2024, $2.3 million in 2023 and $2.1 million in 2022.
For a prospective franchisee, this indicates that Del Taco provides retirement benefits to its employees through defined contribution plans. The merger of the Del Taco Savings Plan into the Jack in the Box Inc. Easy$aver Plus Plan may streamline administrative processes and offer employees a more comprehensive retirement savings option. The contribution amounts reflect Del Taco's investment in employee retirement benefits, which could be a factor in attracting and retaining talent.