What were Hardees' matching contributions to the 401(k) Plan in fiscal year 2024?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
During fiscal 2025 and 2024, our matching contributions to the 401(k) Plan were $702 and $630, respectively.
NOTE 17 — EMPLOYEE RETIREMENT PLAN
We and CKE Restaurants sponsor a contributory plan ("401(k) Plan") to provide retirement benefits under the provisions of Section 401(k) of the Internal Revenue Code ("IRC"). Participants may elect to contribute a portion of their annual salaries on a pre-tax basis to the 401(k) Plan, subject to the maximum contribution allowed by the IRC. During fiscal 2024 and 2023, our matching contributions to the 401(k) Plan were $113 and $94, respectively.
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, there are two mentions of matching contributions to a 401(k) plan. One plan reflects that during fiscal year 2024, Hardees' matching contributions were $630. A second plan reflects that during fiscal year 2024, Hardees' matching contributions were $113.
It is important to note that the document mentions CKE Restaurants also sponsors a contributory plan. CKE Restaurants, Inc. is the parent company of Hardees Restaurants LLC. The difference in matching contributions may be due to different plans for different entities or employee groups within the Hardees/CKE Restaurants system.
A prospective franchisee should clarify with Hardees which 401(k) plan is applicable to their employees and what specific matching contributions they can expect. Understanding the details of employee benefits is crucial for budgeting and managing labor costs.