Darden Restaurants 401(k) match, vesting and fees
What Darden Restaurants' 401(k) plan says about matching contributions
For the calendar quarters ended June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025, the Company made matching contributions of 65%, 25%, 80%, and 65%, respectively, of an employee’s contributions, up to the first 6% of eligible compensation contributed to the Plan. For the calendar quarter ended June 30, 2025, the Company made a matching contribution of 80% of an employee's contributions, up to the first 6% of eligible compensation contributed to the Plan. Effective for calendar quarters beginning on or after April 1, 2020, the Company Matching Contribution is determined separately each calendar quarter at the Company's discretion and can range from a minimum of 0% to a maximum of 120% of an employee's contributions, up to the first 6% of eligible compensation contributed to the Plan. Company Matching Contributions are generally contributed to the Plan on a calendar quarter basis. For calendar quarters ending prior to April 1, 2020, Company Matching Contributions were funded through the Employee Stock Ownership Plan ("ESOP") component of the Plan, the non-ESOP component of the Plan, or a combination of both. Effective for calendar quarters beginning on and after April 1, 2020, the ESOP loans previously entered into by the Plan were repaid in full, and Company Matching Contributions are made only through the non-ESOP component of the Plan. Current Company Matching Contributions are invested in accordance with participant investment elections through the non-ESOP portion of the Plan.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 38 ↗ |
| Match vesting | Each participant is 100% vested in all employee contributions to the Plan and DSP Advantage Allocations, including earnings on all such amounts. Company Matching Contributions and RPC allocations are vested at a rate of 5% for each fiscal quarter beginning with the participant’s fifth quarter of service. An employee is fully vested after completion of 24 fiscal quarters of vesting service (except in the event of retirement, severance, divestiture or death where full vesting may apply as prescribed by the Plan) based on a participant’s years of service and is forfeited if a participant leaves prior to completing such vesting service requirements. | Audit report, p. 39 ↗ |
| Loans | Participants may borrow from their vested account as follows: a minimum of $500 up to a maximum equal to the lesser of $50,000, minus the highest outstanding loan balance in the preceding 12 months even if repaid; 50% of their vested account balance; or the vested balance in the participant’s account excluding the participant’s ESOP and RPC accounts. The loan amount may not result in loan repayments that exceed 50% of the participant’s 13-week average net take-home pay. Loan repayment terms generally may not exceed 5 years, unless the participant receives a principal residence loan, in which case the loan repayment term can be up to 15 years. The loans are secured by the balance in the participant’s account and bear market rates of interest. Principal and interest are paid through payroll deductions and may be repaid in full at any time without penalty. As of April 30, 2025, interest rates ranged from 4.25% to 9.50%, and loans mature through April 25, 2040. | Audit report, p. 40 ↗ |
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Withumsmith+brown (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 19 defined-contribution plans in accommodation and food services with 10,000 to 49,999 participants.
| Darden Restaurants: employer contribution per participant | $1,021 | |
| Peer median | $1,270 |
| Darden Restaurants: average balance | $36,754 | |
| Peer median | $40,457 |
| Darden Restaurants: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.13% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $1.4B at the end of plan year 2023 to $1.6B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 210,222 | $1.6B | $44M | $1,021 | 0.11% | Quoted in the audit report, p. 38 ↗ | Form 5500 ↗ |
| 2023 | 193,985 | $1.4B | $54.8M | $1,328 | 0.12% | Not published | Form 5500 ↗ |
Other Darden Restaurants plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Retirement Income Plan for Darden Restaurants Inc.
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does Darden Restaurants match 401(k) contributions?
The audit report attached to the Darden Savings Plan's plan year 2024 Form 5500, page 38 says: “For the calendar quarters ended June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025, the Company made matching contributions of 65%, 25%, 80%, and 65%, respectively, of an employee’s contributions, up to the first 6% of eligible compensation contributed to the Plan. For the calendar quarter ended June 30, 2025, the Company made a matching contribution of 80% of an employee's contributions, up to the first 6% of eligible compensation contributed to the Plan. Effective for calendar quarters beginning on or after April 1, 2020, the Company Matching Contribution is determined separately each calendar quarter at the Company's discretion and can range from a minimum of 0% to a maximum of 120% of an employee's contributions, up to the first 6% of eligible compensation contributed to the Plan. Company Matching Contributions are generally contributed to the Plan on a calendar quarter basis. For calendar quarters ending prior to April 1, 2020, Company Matching Contributions were funded through the Employee Stock Ownership Plan ("ESOP") component of the Plan, the non-ESOP component of the Plan, or a combination of both. Effective for calendar quarters beginning on and after April 1, 2020, the ESOP loans previously entered into by the Plan were repaid in full, and Company Matching Contributions are made only through the non-ESOP component of the Plan. Current Company Matching Contributions are invested in accordance with participant investment elections through the non-ESOP portion of the Plan.” Plan terms may have changed; check your current Summary Plan Description.
When is the Darden Restaurants 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 39 says: “Each participant is 100% vested in all employee contributions to the Plan and DSP Advantage Allocations, including earnings on all such amounts. Company Matching Contributions and RPC allocations are vested at a rate of 5% for each fiscal quarter beginning with the participant’s fifth quarter of service. An employee is fully vested after completion of 24 fiscal quarters of vesting service (except in the event of retirement, severance, divestiture or death where full vesting may apply as prescribed by the Plan) based on a participant’s years of service and is forfeited if a participant leaves prior to completing such vesting service requirements.”
Who manages the Darden Restaurants 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Darden Restaurants, Inc..
I left Darden Restaurants. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Darden Restaurants, Inc., (407) 245-4000) or the recordkeeper, Principal Life Insurance Company. The Darden Restaurants old 401(k) page lists the contacts from every plan filing. Find an old Darden Restaurants 401(k)
Data from the public Form 5500 annual reports Darden Restaurants filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Darden Restaurants. Not financial advice. Report a correction · Methodology