401(k) Retirement Planning

About the Plan

• Plan Highlights

General 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

Highly Compensated Employees

Team Members who meet the IRS definition of a Highly Compensated Employee (those who earned $150,000 or more in 2023) are not permitted to participate in the 401(k) Plan in 2024. Instead, these Team Members may elect once a year in December to participate in the OSI Restaurant Partners, LLC HCE Deferred Compensation Plan (the “DCP Plan”).

• Learn About the DCP Plan

You may contribute your eligible compensation* on a pretax basis, up to the IRS contribution maximum. In 2024, you can contribute up to $23,000 on a pretax basis. If you’re age 50 or older in 2024, you may be eligible to contribute an additional $7,500 in catch-up contributions.

*Eligible compensation excludes bonuses (but includes monthly JVP, MP, and CP distributions paid through payroll).

• Team Member contributions will begin within 1-2 pay periods after enrollment.
• Plan contributions are made through regular payroll deductions, which make it easy and automatic. You can adjust your contribution rate at any time.

401(k) Match

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

For the 2024 plan year, Bloomin’ Brands 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 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.
• The 2024 matching contributions, if you remain eligible, will be paid into your account in March 2025.

*For managing partners and chef partners, the match will also be applied to 401(k) deferrals you make from your monthly distributions.

To be eligible for the match:

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

Vesting is your right to all or a portion of your account balance. You are immediately 100% vested in your Team Member contributions, including elective deferrals, catch-up contributions and rollover contributions, and in any company discretionary matching contributions, adjusted for earnings or losses.

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

Information about investment options and any potential fees are available on the Fidelity website. 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.

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