Darden 401(k)

Darden Restaurants is a restaurant operator in the United States, and it maintains a portfolio of popular restaurant chains, including Olive Garden, LongHorn Steakhouse, and Cheddar’s Scratch Kitchen. With over 195,000 employees across over 2,100 restaurants, Darden offers employees a variety of benefits, including a 401(k) savings plan.

New employees become eligible to enroll in the Darden 401(k) plan immediately upon hire. You must be age 18 or older, and you can contribute up to 75% of your eligible pay to the 401(k) plan. Once you complete one year of service, you become eligible to receive up to a 6% match of your contributions. You must be at least age 21 and have an annual income below $125,000 to receive the company match.

Darden 401k provider

Darden Restaurants’ 401(k) plan, also known as the Darden Savings Plan, is with Principal Financial. Principal is an American financial investment company with a presence in over 25 countries and has $695 billion in assets under management as of 2024.

Darden 401(k) plan participants can access their 401(k) accounts through the Principal Financial website to check their 401(k) balance, update their contribution rates, and choose investment options.

Darden 401k login

Enrolled employees can access their Darden 401(k) savings through the Principal Financial website. To log in, a participant is required to enter their username and password. You can also use the “Forgot username or password” feature to reset your login credentials. Once logged in, you can view your account balance, and make changes to your contributions and investments.

Darden 401k match

Darden employees get up to 6% 401(k) match, and the exact match can vary from 25% to 120% based on the company's performance during the year. Employees become eligible to receive the 401(k) match after one year of service, and they must be at least age 21 and have an annual income below $125,000. You must contribute at least 6% of your eligible pay to receive the full employer match.

Darden 401k customer service

If you need help with your 401(k) plan, you can contact Principal Financial customer service at 800-547-7754 Monday through Friday from 8.00 am to 10.00 pm EST. There are no weekend hours.

Darden 401k loan

Darden Restaurants allows employees enrolled in the company’s 401(k) plan to borrow against their retirement savings. Plan participants can borrow the lesser of 50% of their vested 401(k) balance, up to a maximum of $50,000. The minimum loan amount is $1,000.

Plan participants can take a general-purpose loan or a residential loan, each with different repayment periods. Loan repayments go back to your 401(k) account. However, be aware that taking a 401(k) loan limits the growth potential of your retirement money.

Darden 401k after termination

If you leave Darden Restaurants, you will have several options with your 401(k) money. You can choose to leave your money in the account, but you must have at least $5,000 in your 401(k) balance. You can also choose to roll over the funds to your new employer’s 401(k) plan, IRA, or other qualified retirement plan.

 If you have a large expense or need money for other purposes, you can withdraw your 401(k) funds, but this may result in income taxes and penalties.

Darden 401k withdrawal

Withdrawals from your Darden 401(k) plan are subject to IRS regulations. Generally, 401(k) withdrawals start at age 59 ½, but be aware that these withdrawals will be taxed at your income tax bracket. If you are younger than 59 ½, you won’t be allowed to tap into your 401(k) account except if you are facing a financial hardship.

Darden 401k early withdrawal

Taking an early withdrawal from your Darden 401(k) account before age 59 ½ will result in a 10% early withdrawal penalty in addition to regular income taxes. However, early 401(k) withdrawals are not allowed in certain circumstances, such as disability, qualified reservist distributions, and financial hardship withdrawals.

Some of the qualifying hardship withdrawals include medical expenses, principal home purchase, education costs, and funeral expenses. The hardship withdrawal is limited to the amount you need to satisfy the financial need.

Darden 401k rollover form

If you want to rollover your Darden 401(k) funds into another qualified retirement plan, you will be required to complete a rollover form. You can obtain this form by logging into your 401(k) account on the Principal Financial website or by contacting Principal customer service at 800-547-7754 Monday through Friday from 8 a.m. to 10 p.m. EST.

Darden 401k account number

You can find your Darden 401(k) account number by logging into your 401(k) account on the Principal website. You can also check your most recent 401(k) statement; your account number appears alongside your other information. If you still can’t find your account, contact Principal customer service at 800-547-7754 for assistance in finding your 401(k) account number.

Darden 401k phone number

If you have any inquiries about your Darden 401(k) account, you can reach Principal Financial customer service at 800-547-7754 Monday through Friday from 8 a.m. to 10 p.m. EST.

Darden 401k administrator

The Darden 401(k) plan administrator is Thamara Mahaffey. If you have questions about your Darden restaurant’s benefits, you can contact the plan administrator at 407-245-4000 or via the following address: 1000 Darden Center Drive, Orlando, FL 32837

Darden 401k eligibility

New Darden Restaurant hires become eligible to enroll in the company-sponsored 401(k) plan immediately upon hire and must be age 18 or older. Once enrolled, plan participants can contribute up to 75% of their eligible compensation on a before- or after-tax basis. However, an employee must complete one year of service to qualify for the 401(k) match.

Darden 401k vesting

Darden Restaurant follows a 5-year vesting schedule for its matching contributions. This means that employees gradually gain ownership of the employer-matched funds over five years. If you quit or terminate employment before the five-year period, you get to keep a portion of the employer contributions.

Darden 401k app

Darden employees can manage their 401(k) funds through the Principal Financial mobile app, available in the App Store and Google Play store. Participants can use the mobile app to track their 401(k) investments, change their contribution rates, and stay updated with the latest news.

Darden 401k summary plan description

Once an employee enrolls in the Darden 401(k) plan, they receive a summary plan description from the plan administrator. The summary plan description highlights the plan benefits available to employees and the various plan requirements. You can request a summary plan description by logging into your 401(k) account on the Principal website or by contacting the plan administrator.