Defined Benefit (Pension) · DOL Form 5500 · 2023

General Mills, Inc. Pension Plan

Data updated 2026-08-25

$4.0B
Total assets Very large vs avg
383
Participants Below avg headcount
100th
Percentile by assets National rank
$10.4M
Avg per participant High balance/head
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Official DOL plan name: General Mills Pension Plan I · Sponsored by General Mills, Inc. · Minnesota · Manufacturing

$4.0B in assets, 383 participants

General Mills, Inc.'s General Mills Pension Plan I reported $4.0B in total assets and 383 participants in its 2023 DOL Form 5500 filing, ranking in the 100th 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.

  • #18,590 in Manufacturing (18,722 peers)

Coverage in Minnesota

General Mills Pension Plan I covers 383 participants in Minnesota, about 34% of the average Minnesota filer (state average ~1,126 per filing). Assets: $4.0B.

#18,590
in Manufacturing (18,722 peers)
+46.5%
assets growth YoY
40×
vs typical plan assets (national mean)

General Mills Pension Plan I's outsized position by total assets

General Mills Pension Plan I vs every filed plan by assets

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

$3,991,064,596 Highest reported value at or above every one 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

General Mills Pension Plan I among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. General Mills Pension Plan I sits mid-pack in the medium band (383 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • General Mills Pension Plan I reported net income rose from -$959M in the plan year 2022 filing to $24M in the plan year 2023 filing.
  • General Mills Pension Plan I end-of-year assets rose from $2.7B in the plan year 2022 filing to $4.0B in the plan year 2023 filing.
  • General Mills Pension Plan I reported participants fell from 423 in the plan year 2022 filing to 383 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 410274440 · General Mills, Inc. PY 2023 · Defined Benefit (Pension)

General Mills Pension Plan I · $4.0B · 383 · 100th

  • 5500 $4.0B
  • 5500 383
  • 5500 100th
  • 5500 Defined Benefit (Pension)
  • 5500 near Duke Energy Retirement Cash Balance Plan
  • 5500 ind #18590

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 →

General Mills Pension Plan I in the asset neighbourhood

Abbott - Abbvie Multiple Employer Pension PlanAbbott - Abbvie Multiple Emp…$4.0BJohn Deere Pension Plan for Wage EmployeesJohn Deere Pension Plan for …$4.1BDuke Energy Retirement Cash Balance PlanDuke Energy Retirement Cash …$4.0BGeneral Mills Pension Plan I$4.0BLlns Defined Benefit Pension PlanLlns Defined Benefit Pension…$3.9B
End-of-year total assets ($B) among General Mills Pension Plan I and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$2.7B
Net Assets (End of Year)$4.0B
Net Income$24M
Employer EIN410274440
Plan Effective Date2018-06-01
Filing StatusFILING RECEIVED

Sponsor Plan History (General Mills, Inc.)

Sponsor-wide plan assets over time

All General Mills, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$10.3B 5.579300432228008% vs 2022
2024 filing year
$9.6B$9.8B$10B$10.2B$10.4B 202220232024 $9.74B $10.3B ▲ +5.6%
Year Plans Participants Total Assets
2022 4 21,748 $9.7B
2023 4 21,778 $10.2B
2024 4 22,170 $10.3B

Nearby Defined Benefit (Pension) Plans in Minnesota

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

General Mills Pension Plan I vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 051015 Total assets ($B) Participants General Mills Pension Plan I, Total assets ($B): 3.991064596 · Participants: 383General Mills Pension Plan I3M Employee Retirement Income Plan, Total assets ($B): 14.281991028 · Participants: 106383M Employee Retirement Income PlanMayo Pension Plan, Total assets ($B): 11.032936702 · Participants: 69155Mayo Pension PlanThe Travelers Pension Plan, Total assets ($B): 4.150985971 · Participants: 24884The Travelers Pension PlanU.S. Bank Pension Plan, Total assets ($B): 3.969502742 · Participants: 56287U.S. Bank Pension PlanTarget Corporation Pension Plan, Total assets ($B): 3.549954347 · Participants: 45724Target Corporation Pension Plan
General Mills Pension Plan I vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
Compare General Mills Pension Plan I side-by-side with 3 peers →

General Mills Pension Plan I's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Minnesota, the nearest Defined Benefit (Pension) by assets is Duke Energy Retirement Cash Balance Plan in NC ($4.0B); by covered participants it is Alliant Energy Cash Balance Pension Plan in WI (383 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($4.0B here).

Similar participant headcount

Nearest other-state filings by covered participants (383 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 General Mills Pension Plan I assets move in 2023? ▼
General Mills Pension Plan I surged - up 46.5% during 2023, from $2.7B to $4.0B. Reported net income was $24M.
How have General Mills, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), General Mills, Inc.'s sponsor-wide assets grew 5.6%, from $9.7B to $10.3B.
Where does General Mills Pension Plan I rank by assets among Form 5500 filers? ▼
General Mills Pension Plan I ranks in the 100th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to General Mills Pension Plan I? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Duke Energy Retirement Cash Balance Plan in NC ($4.0B, 14,485 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to General Mills Pension Plan I? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Alliant Energy Cash Balance Pension Plan in WI (383 participants, $232M 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 410274440.

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.