What was the obligation at the end of the year 2023 for Qualifi-related benefits for Del Taco?
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 2023, Del Taco's contributions under qualified savings plans were $2.3 million. These plans, maintained pursuant to Section 401(k) of the Internal Revenue Code ("IRC"), included the Jack in the Box Inc. Easy$aver Plus Plan and the Del Taco Savings Plan. These plans allow employees meeting certain age and minimum service requirements to defer a percentage of their pay on a pre-tax basis.
Effective January 1, 2024, the Del Taco Savings Plan was merged into the Easy$aver Plus Plan. Prior to this merger, Del Taco maintained its own separate savings plan. The qualified savings plans provide retirement benefits to Del Taco employees, allowing them to save on a pre-tax basis.
For a prospective franchisee, this indicates the level of investment Del Taco makes in its employees' retirement benefits. While franchisees are not direct beneficiaries of these specific corporate-level plans, understanding the overall compensation and benefits structure can provide insight into the company's values and its approach to human capital management.