Defined Benefit (Pension) · DOL Form 5500 · 2023
Hormel Foods Corporation Pension Plan
Data updated 2026-08-11
- $985M
- Total assets
- 8,622
- Participants
- 99th
- Percentile by assets
- $114,229
- Avg per participant
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.
- 99th percentile by assets (of 127,072 plans)
- #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.
- $985M
- total plan assets (2023 EOY)
- 8,622
- covered participants
- 99th
- percentile by assets (of 127,072 plans)
- $114,229
- avg assets per participant
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.
Participants vs Minnesota filers
In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Hormel Foods Corporation Pension Plan reports 8,622 participants - 7.7x that state average ($985M EOY assets).
Minnesota filing particulars
| Total Assets (Beginning of Year) | $880M |
|---|---|
| Net Assets (End of Year) | $985M |
| Net Income | $105M |
| Employer EIN | 410319970 |
| Plan Effective Date | 1956-10-29 |
| 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 Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
- 3M Employee Retirement Income Plan $14.3B · 10,638
- Mayo Pension Plan $11.0B · 69,155
- The Travelers Pension Plan $4.2B · 24,884
- General Mills Pension Plan I $4.0B · 383
- U.S. Bank Pension Plan $4.0B · 56,287
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 Tax Deferred Investment Plan a * (401(k), $1.2B, 4,950 participants)
- Hormel Foods Corporation Joint Earnings Profit Sharing Trust (ESOP, $424M, 4,375 participants)
- Hormel Foods Corporation Hourly Employees' Pension Plan (Defined Benefit (Pension), $333M, 3,369 participants)
- Hormel Foods Corporation Tax Deferred Investment Plan B (401(k), $192M, 3,218 participants)
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Hormel Foods Corporation Pension Plan by total assets, not by location.
- Local No. 731, I.B. of T., Pension Fund (IL) $985M · 3,289
- Ashland Hercules Pension Plan (KY) $984M · 70
- International UAW Staff Retirement Income Plan (MI) $985M · 512
- Snap-on Incorporated Retirement Plan (WI) $986M · 3,761
Frequently Asked Questions
How did Hormel Foods Corporation Pension Plan assets move in 2023? ▼
How have Hormel Foods Corporation plan assets changed over time? ▼
Where does Hormel Foods Corporation Pension Plan rank by assets among Form 5500 filers? ▼
Which Defined Benefit (Pension) plans are similar in size to Hormel Foods Corporation Pension Plan? ▼
Next read for Hormel Foods Corporation Pension Plan
Filing takeaways
Ways to act on Hormel Foods Corporation Pension Plan's numbers.
- By total assets, Hormel Foods Corporation Pension Plan ranks among the largest 1% of all filed plans. 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