Defined Benefit (Pension) · DOL Form 5500 · 2023

Hormel Foods Corporation Pension Plan

Data updated 2026-08-25

$333M
Total assets Above avg plan size
3,369
Participants Above avg headcount
96th
Percentile by assets National rank
$98,706
Avg per participant Below avg balance/head
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Official DOL plan name: Hormel Foods Corporation Hourly Employees' Pension Plan · Sponsored by Hormel Foods Corporation · Minnesota · Manufacturing

$333M in assets, 3,369 participants

Hormel Foods Corporation's Hormel Foods Corporation Hourly Employees' Pension Plan reported $333M in total assets and 3,369 participants in its 2023 DOL Form 5500 filing, ranking in the 96th 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.

  • #17,654 in Manufacturing (18,722 peers)

Coverage in Minnesota

Hormel Foods Corporation Hourly Employees' Pension Plan covers 3,369 participants in Minnesota, 3.0x the typical Minnesota plan (state average ~1,126 per filing). Assets: $333M.

#17,654
in Manufacturing (18,722 peers)
+12.0%
assets growth YoY
3.3×
vs typical plan assets (national mean)

Hormel Foods Corporation Hourly Employees' Pension Plan's outsized position by total assets

Hormel Foods Corporation Hourly Employees' Pension Plan vs every filed plan by assets

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

$332,539,509 Top 4% higher than 96% 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 Hourly Employees' Pension Plan'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 Hourly Employees' Pension Plan lands in the large band (3,369 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Hormel Foods Corporation Hourly Employees' Pension Plan reported net income rose from -$17M in the plan year 2022 filing to $36M in the plan year 2023 filing.
  • Hormel Foods Corporation Hourly Employees' Pension Plan end-of-year assets rose from $297M in the plan year 2022 filing to $333M in the plan year 2023 filing.
  • Hormel Foods Corporation Hourly Employees' Pension Plan reported participants fell from 3,413 in the plan year 2022 filing to 3,369 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 · Defined Benefit (Pension)

Hormel Foods Corporation Hourly Employees' Pension Plan · $333M · 3,369 · 96th

  • EBSA $333M
  • PART 3,369
  • TYPE 96th
  • NET Defined Benefit (Pension)
  • BOOK near Masters, Mates & Pilots Pension Plan
  • VS-ST ind #17654

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 Hourly Employees' Pension Plan in the asset neighbourhood

Wps Pension Plan$334MVencore, Inc. Pension Plan$333MHormel Foods Corporation Hourly Employees' Pension PlanHormel Foods Corporation Hou…$333MMasters, Mates & Pilots Pension PlanMasters, Mates & Pilots Pens…$332MNordson Corporation Salaried Employees Pension PlanNordson Corporation Salaried…$332M
End-of-year total assets ($M) among Hormel Foods Corporation Hourly Employees' Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$297M
Net Assets (End of Year)$333M
Net Income$36M
Employer EIN410319970
Plan Effective Date1956-10-28
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 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 Scatter plot of 6 data points. -20000020000400006000080000 -5051015 Total assets ($B) Participants Hormel Foods Corporation Hourly Employees' Pension Plan, Total assets ($B): 0.332539509 · Participants: 3369Hormel Foods Corporation Hourly Employees' Pension Plan3M 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 ($B): 4.150985971 · Participants: 24884The Travelers Pension PlanGeneral Mills Pension Plan I, Total assets ($B): 3.991064596 · Participants: 383General Mills Pension Plan IU.S. Bank Pension Plan, Total assets ($B): 3.969502742 · Participants: 56287U.S. Bank Pension Plan
Hormel Foods Corporation Hourly Employees' Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
Compare Hormel Foods Corporation Hourly Employees' Pension Plan side-by-side with 3 peers →

Hormel Foods Corporation Hourly Employees' Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Minnesota, the nearest Defined Benefit (Pension) by assets is Masters, Mates & Pilots Pension Plan in MD ($332M); by covered participants it is Kinder Morgan Retirement Plan a in TX (3,365 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($333M here).

Similar participant headcount

Nearest other-state filings by covered participants (3,369 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 Hourly Employees' Pension Plan assets move in 2023? ▼
Hormel Foods Corporation Hourly Employees' Pension Plan grew at a solid clip - up 12.0% during 2023, from $297M to $333M. Reported net income was $36M.
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 Hourly Employees' Pension Plan rank by assets among Form 5500 filers? ▼
Hormel Foods Corporation Hourly Employees' Pension Plan ranks in the 96th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to Hormel Foods Corporation Hourly Employees' Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Masters, Mates & Pilots Pension Plan in MD ($332M, 655 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Hormel Foods Corporation Hourly Employees' Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Kinder Morgan Retirement Plan a in TX (3,365 participants, $1.2B 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.