Eligibility

Salaried Team Members, Sous Chefs, MITs, GEDMs, and Flex Managers are eligible to enroll in the OSI Restaurant Partners, LLC Salaried Employees 401(k) Plan & Trust.

The following Team Members are not eligible to participate in the Plan:

• Hourly Team Members
• Those not on U.S. payroll
• Those working for a non-participating employer

Your contributions

You may contribute your eligible compensation* on a pre-tax basis, up to the IRS contribution maximum. In 2023, you can contribute up to $22,500 on a pre-tax basis. If you’re age 50 or older in 2023, you may be eligible to contribute an additional $7,500 in catch-up contributions.

Team Member contributions will begin within 1 to 2 pay periods after enrollment.

Plan contributions are made through regular payroll deductions, which make it easy and automatic. And, you can adjust your contribution rate at any time if your goals or life circumstances change through Fidelity’s website, NetBenefits.

You will need to register at NetBenefits to be able to make elections and changes to your 401(k) benefit.

Want to learn more about your 401(k) benefit? Review the plan highlights and begin investing in your future, today.

Company contributions

401(k) match

The Plan has a discretionary employer match feature — this means the company will contribute funds into your 401(k) account, but only if you do as well.

In the 2023 plan year, the company will match 100% of the first 3% of your eligible compensation that you contribute to the Plan, plus 50% of the next 2%** that you contribute. To get the maximum benefit from the match feature, you should defer at least 5% of your pay. The 2023 matching contributions, if you remain eligible, will be paid into your account in March 2024. Learn more.

In order to be eligible for the match:

• You must be in a salaried or an hourly with salaried position as of December 31 of the plan year; and
• Your pre-tax contributions must have been made to the 401(k) plan that year.

The match will be deposited into your account in the first quarter of the following year. Money deferred under the catch-up contribution allowance will not be matched.

Vesting

Vesting is your right to all or a portion of your account balance. You are always 100% vested in your Team Member contributions and any rollover contributions, adjusted for earnings or losses.

Company performance contributions (profit sharing) from 2015 to 2019, or the new match feature towards your 401(k) made by OSI Restaurant Partners, LLC, will be immediately vested.

Employer contributions made reflecting company performance (profit sharing) for 2014 and prior will be vested after 3 years of service.***

***If you have completed 5 or more months of service in your third year of employment, you will receive vesting credit for the full year.

Choosing your investments

Once you’re enrolled, be sure to review your investment selections periodically. If your goals or circumstances change, consider revising your strategy and investment selections to match them.

Make your investment selections online at Fidelity’s website, NetBenefits. Until you make your investment selections, contributions to your account will be invested in the Fidelity Freedom® Fund associated with your estimated retirement date based on your date of birth.

To make your investment elections over the phone, call Fidelity at 1-800-835-5095 between 8:00 a.m. to 8:30 p.m. Eastern Time (excluding most holidays), Monday through Friday.

You may change the way your future contributions will be invested as frequently as once daily.

Accessing your account

Access your Plan account online at NetBenefits or call 1-800-835-5095 to speak with a Fidelity representative Monday through Friday, 8:00 a.m. to 8:30 p.m. Eastern Time (excluding most holidays). You can also use the automated voice response system, virtually 24 hours, 7 days a week.