Defined Benefit (Pension) · DOL Form 5500 · 2023

Hormel Foods Corporation Pension Plan

Data updated 2026-08-25

$985M
Total assets Above avg plan size
8,622
Participants Very large workforce
99th
Percentile by assets National rank
$114,229
Avg per participant Below avg balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Hormel Foods Corporation Pension Plan · Sponsored by Hormel Foods Corporation · Minnesota · Manufacturing

$985M in assets, 8,622 participants

Hormel Foods Corporation's Hormel Foods Corporation Pension Plan reported $985M in total assets and 8,622 participants in its 2023 DOL Form 5500 filing, ranking in the 99th 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.

  • #18,262 in Manufacturing (18,722 peers)

Coverage in Minnesota

Hormel Foods Corporation Pension Plan covers 8,622 participants in Minnesota, 7.7x the typical Minnesota plan (state average ~1,126 per filing). Assets: $985M.

#18,262
in Manufacturing (18,722 peers)
+12.0%
assets growth YoY
9.9×
vs typical plan assets (national mean)

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

Hormel Foods Corporation Pension Plan vs every filed plan by assets

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

$984,883,233 Top 1% higher than 99% 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 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 Pension Plan lands in the large band (8,622 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Hormel Foods Corporation Pension Plan reported net income rose from -$47M in the plan year 2022 filing to $105M in the plan year 2023 filing.
  • Hormel Foods Corporation Pension Plan reported participants rose from 3,772 in the plan year 2022 filing to 8,622 in the plan year 2023 filing.
  • Hormel Foods Corporation Pension Plan end-of-year assets rose from $880M in the plan year 2022 filing to $985M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 410319970 · Hormel Foods Corporation PY 2023 · Defined Benefit (Pension)

Hormel Foods Corporation Pension Plan · $985M · 8,622 · 99th

  • PCT $985M
  • EIN 8,622
  • RANK 99th
  • PHOTO Defined Benefit (Pension)
  • IND near Local No. 731, I.B. of T., Pension Fund
  • EOY ind #18262

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 Pension Plan in the asset neighbourhood

Snap-on Incorporated Retirement PlanSnap-on Incorporated Retirem…$986MInternational UAW Staff Retirement Income PlanInternational UAW Staff Reti…$985MLocal No. 731, I.B. of T., Pension FundLocal No. 731, I.B. of T., P…$985MHormel Foods Corporation Pension PlanHormel Foods Corporation Pen…$985MAshland Hercules Pension Plan$984M
End-of-year total assets ($M) among Hormel Foods Corporation Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$880M
Net Assets (End of Year)$985M
Net Income$105M
Employer EIN410319970
Plan Effective Date1956-10-29
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 Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 051015 Total assets ($B) Participants Hormel Foods Corporation Pension Plan, Total assets ($B): 0.984883233 · Participants: 8622Hormel Foods Corporation 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 Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
Compare Hormel Foods Corporation Pension Plan side-by-side with 3 peers →

Scale composition for Hormel Foods Corporation Pension Plan

Hormel Foods Corporation Pension Plan reports $985M in end-of-year assets across 8,622 participants (0.008% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.009% of 93,925,755 covered participants) - about $114,229 per participant (83% of the national average assets-per-participant) . Net income for plan year 2023 was $105M.

This plan identity (EIN 410319970, plan #001) has 2 Form 5500 filings on file from 2022 to 2023 , with end-of-year assets moving from $880M to $985M (+12.0%) while covered participants moved from 3,772 to 8,622 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 3,772 $880M Open filing
2023 · index core 8,622 $985M This page

The same sponsor also keeps 4 other index-core plans on PlainRetire:

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

Outside Minnesota, the nearest Defined Benefit (Pension) by assets is Local No. 731, I.B. of T., Pension Fund in IL ($985M); by covered participants it is International Brotherhood of Teamsters Union Local 710 Pension Fund in IL (8,622 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($985M here).

Similar participant headcount

Nearest other-state filings by covered participants (8,622 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 Pension Plan assets move in 2023? ▼
Hormel Foods Corporation Pension Plan grew at a solid clip - up 12.0% during 2023, from $880M to $985M. Reported net income was $105M.
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 Pension Plan rank by assets among Form 5500 filers? ▼
Hormel Foods Corporation Pension Plan ranks in the 99th 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 Hormel Foods Corporation Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Local No. 731, I.B. of T., Pension Fund in IL ($985M, 3,289 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Hormel Foods Corporation Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is International Brotherhood of Teamsters Union Local 710 Pension Fund in IL (8,622 participants, $4.2B 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.