Defined Benefit (Pension) · DOL Form 5500 · 2022
Hormel Foods Corporation Pension Plan
Data updated 2026-08-11
- $297M
- Total assets
- 3,413
- Participants
- 97th
- Percentile by assets
- $86,983
- Avg per participant
Official DOL plan name: Hormel Foods Corporation Hourly Employees' Pension Plan · Sponsored by Hormel Foods Corporation · Minnesota · Manufacturing
$297M in assets, 3,413 participants
Hormel Foods Corporation's Hormel Foods Corporation Hourly Employees' Pension Plan reported $297M in total assets and 3,413 participants in its 2022 DOL Form 5500 filing, ranking in the 97th 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.
- 97th percentile by assets (of 139,126 plans)
- #19,529 in Manufacturing (20,602 peers)
Coverage in Minnesota
Hormel Foods Corporation Hourly Employees' Pension Plan covers 3,413 participants in Minnesota, 3.0x the typical Minnesota plan (state average ~1,126 per filing). Assets: $297M.
- $297M
- total plan assets (2022 EOY)
- 3,413
- covered participants
- 97th
- percentile by assets (of 139,126 plans)
- $86,983
- avg assets per participant
The plan reported a net loss of $17M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Participants vs Minnesota filers
In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Hormel Foods Corporation Hourly Employees' Pension Plan reports 3,413 participants - 3.0x that state average ($297M EOY assets).
Minnesota filing particulars
| Total Assets (Beginning of Year) | $314M |
|---|---|
| Net Assets (End of Year) | $297M |
| Net Income | -$17M |
| Employer EIN | 410319970 |
| Plan Effective Date | 1956-10-28 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Hormel Foods Corporation)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 5 | 19,631 | $2.9B |
| 2023 | 5 | 24,731 | $3.0B |
| 2024 | 3 | 12,543 | $1.8B |
Nearby Defined Benefit (Pension) Plans in Minnesota
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
Hormel Foods Corporation Hourly Employees' Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
- 3M Employee Retirement Income Plan $14.0B · 12,160
- Mayo Pension Plan $10.3B · 66,434
- The Travelers Pension Plan $3.9B · 25,144
- U.S. Bank Pension Plan $3.7B · 55,836
- Target Corporation Pension Plan $3.3B · 50,515
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Hormel Foods Corporation Hourly Employees' Pension Plan by total assets, not by location.
- Laborers Local 57 Industrial Pension Plan (PA) $296M · 1,471
- The Atlanticare Health System, Inc. Pension Plan (NJ) $296M · 1,501
- Crawford & Company Retirement Plan (GA) $298M · 344
- Hilton Hotels Retirement Plan (VA) $295M · 617
Frequently Asked Questions
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Filing takeaways
Ways to act on Hormel Foods Corporation Hourly Employees' Pension Plan's numbers.
- By total assets, Hormel Foods Corporation Hourly Employees' Pension Plan ranks in the top 5% of all filed plans by assets. See the largest plans
- Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in Minnesota. Compare plans
- Hormel Foods Corporation's sponsor-wide assets have declined 38.9% since 2022 across 3 plan years on file. More Manufacturing plans