401(k) · DOL Form 5500 · 2023

Hormel Foods Corporation 401(k) Plan

Data updated 2026-08-25

$188M
Total assets Near avg plan size
3,156
Participants Above avg headcount
94th
Percentile by assets National rank
$59,725
Avg per participant Low balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Hormel Foods Corporation Tax Deferred Investment Plan B · Sponsored by Hormel Foods Corporation · Minnesota · Manufacturing

$188M in assets, 3,156 participants

Hormel Foods Corporation's Hormel Foods Corporation Tax Deferred Investment Plan B reported $188M in total assets and 3,156 participants in its 2023 DOL Form 5500 filing, ranking in the 94th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #17,126 in Manufacturing (18,722 peers)

Coverage in Minnesota

Hormel Foods Corporation Tax Deferred Investment Plan B covers 3,156 participants in Minnesota, 2.8x the typical Minnesota plan (state average ~1,126 per filing). Assets: $188M.

#17,126
in Manufacturing (18,722 peers)
-9.3%
assets change YoY
1.9×
vs typical plan assets (national mean)

The plan reported a net loss of $19M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Hormel Foods Corporation Tax Deferred Investment Plan B's outsized position by total assets

Hormel Foods Corporation Tax Deferred Investment Plan B vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$188,490,543 Top 6% higher than 94% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Hormel Foods Corporation Tax Deferred Investment Plan B's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Hormel Foods Corporation Tax Deferred Investment Plan B lands in the large band (3,156 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Hormel Foods Corporation Tax Deferred Investment Plan B reported net income fell from -$2M in the plan year 2022 filing to -$19M in the plan year 2023 filing.
  • Hormel Foods Corporation Tax Deferred Investment Plan B end-of-year assets fell from $208M in the plan year 2022 filing to $188M in the plan year 2023 filing.
  • Hormel Foods Corporation Tax Deferred Investment Plan B reported participants rose from 3,072 in the plan year 2022 filing to 3,156 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 410319970 · Hormel Foods Corporation PY 2023 · 401(k)

Hormel Foods Corporation Tax Deferred Investment Plan B · $188M · 3,156 · 94th

  • EIN $188M
  • EIN 3,156
  • EIN 94th
  • EIN 401(k)
  • EIN near Nep Broadcasting, LLC 401(k) Plan
  • EIN ind #17126

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Manufacturing retirement plans → · Plans in Minnesota →

Hormel Foods Corporation Tax Deferred Investment Plan B in the asset neighbourhood

Psc Group 401(k) Plan$189MBosch Security Systems Retirement Savings PlanBosch Security Systems Retir…$189MNep Broadcasting, LLC 401(k) PlanNep Broadcasting, LLC 401(k)…$189MHormel Foods Corporation Tax Deferred Investment Plan BHormel Foods Corporation Tax…$188MFremont Bank Employee Stock Ownership and 401(k) PlanFremont Bank Employee Stock …$188M
End-of-year total assets ($M) among Hormel Foods Corporation Tax Deferred Investment Plan B and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$208M
Net Assets (End of Year)$188M
Net Income-$19M
Employer EIN410319970
Plan Effective Date1987-08-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Hormel Foods Corporation)

Sponsor-wide plan assets over time

All Hormel Foods Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$1.8B 38.865716518961875% vs 2022
2024 filing year
$1.5B$2B$2.5B$3B$3.5B 202220232024 $2.91B $1.78B ▼ -38.8%
Year Plans Participants Total Assets
2022 5 19,631 $2.9B
2023 5 24,731 $3.0B
2024 3 12,543 $1.8B

Nearby 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Hormel Foods Corporation Tax Deferred Investment Plan B vs. nearby 401(k) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000400000500000 -50510152025 Total assets ($B) Participants Hormel Foods Corporation Tax Deferred Investment Plan B, Total assets ($B): 0.188490543 · Participants: 3156Hormel Foods Corporation Tax Deferred Investment Plan BUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 22.432100178 · Participants: 198972Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 13.008265857 · Participants: 432617Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 12.931979 · Participants: 44342Medtronic Savings and Investment Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 12.04661588 · Participants: 360493M Voluntary Investment Plan and Employee Stock Ownership PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 10.271161911 · Participants: 75272U.S. Bank 401(k) Savings Plan
Hormel Foods Corporation Tax Deferred Investment Plan B vs. nearby 401(k) plans in Minnesota, assets vs. participants
Compare Hormel Foods Corporation Tax Deferred Investment Plan B side-by-side with 3 peers →

Hormel Foods Corporation Tax Deferred Investment Plan B's out-of-state 401(k) peers by assets and headcount

Outside Minnesota, the nearest 401(k) by assets is Nep Broadcasting, LLC 401(k) Plan in PA ($189M); by covered participants it is Hotel Retirement Systems Profit Sharing Plan and Trust in SD (3,157 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($188M here).

Similar participant headcount

Nearest other-state filings by covered participants (3,156 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Hormel Foods Corporation Tax Deferred Investment Plan B assets move in 2023? ▼
Hormel Foods Corporation Tax Deferred Investment Plan B pulled back noticeably - down 9.3% during 2023, from $208M to $188M. Reported net income was -$19M.
How have Hormel Foods Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Hormel Foods Corporation's sponsor-wide assets declined 38.9%, from $2.9B to $1.8B.
Where does Hormel Foods Corporation Tax Deferred Investment Plan B rank by assets among Form 5500 filers? ▼
Hormel Foods Corporation Tax Deferred Investment Plan B ranks in the 94th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Hormel Foods Corporation Tax Deferred Investment Plan B? ▼
Among 401(k) plans in other states, the closest by assets is Nep Broadcasting, LLC 401(k) Plan in PA ($189M, 1,667 participants).
Which 401(k) plans cover a similar participant headcount to Hormel Foods Corporation Tax Deferred Investment Plan B? ▼
Among 401(k) plans in other states, the closest by covered participants is Hotel Retirement Systems Profit Sharing Plan and Trust in SD (3,157 participants, $30M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410319970.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.