Employer · plans filed under one EIN
Hormel Foods Corporation
Austin, MN · Manufacturing
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances.
Hormel Foods Corporation, based in Austin, Minnesota, sponsors 5 retirement plans with 100 or more participants: 3 defined contribution and 2 defined benefit. Together they reported 35,902 participant records and $3.27B in net assets.
The largest is Hormel Foods Corporation Pension Plan, a cash balance pension plan with 11,782 participants. A person can be counted in more than one plan, so the participant total is a count of records rather than of people.
Employer contributions across the plans were $30.8M and participant contributions $56.5M in the latest plan years; benefits paid were $252M. Schedule C compensation reported to service provider organisations totalled $3.0M.
Combined net assets moved from $1.06B in 2009 to $1.88B in 2025 (up 77%). Plan mergers and spin-offs show up here as steps in the series.
Plans
| Plan | Kind | Plan year | Participants | Net assets | Per participant | Employer / active | Sch. C compensation |
|---|---|---|---|---|---|---|---|
| Hormel Foods Corporation Pension Plan | cash balance pension plan | 2024 | 11,782 | $1.04B | $87,954 | — | $1.3M |
| Hormel Foods Corporation Hourly Employees' Pension Plan | defined benefit pension plan | 2024 | 7,634 | $351M | $45,966 | — | $915K |
| Hormel Foods Corporation Tax Deferred Investment Plan a * | ESOP with a 401(k) feature | 2025 | 6,768 | $1.28B | $188,433 | $4,345 | $401K |
| Hormel Foods Corporation Joint Earnings Profit Sharing Trust | employee stock ownership plan | 2025 | 5,674 | $418M | $73,685 | $1,589 | $157K |
| Hormel Foods Corporation Tax Deferred Investment Plan B | ESOP with a 401(k) feature | 2025 | 4,044 | $192M | $47,357 | $966 | $178K |
| US median, plan year 2024: DC plans $53,102 per participant, $2,175 employer contribution per active participant; DB plans $86,221 and $10,244. | |||||||
Trend by plan year
| Plan year | Plans | Participant records | Net assets | Employer contributions | Participant contributions |
|---|---|---|---|---|---|
| 2025 | 3 | 16,486 | $1.88B | $30.8M | $56.5M |
| 2024 | 5 | 36,165 | $3.16B | $32.4M | $55.4M |
| 2023 | 5 | 37,049 | $3.02B | $27.3M | $50.6M |
| 2022 | 5 | 36,393 | $2.91B | $8.3M | $9.6M |
| 2021 | 5 | 31,643 | $2.97B | $31.2M | $47.9M |
| 2020 | 5 | 31,737 | $3.66B | $30.2M | $47.8M |
| 2019 | 5 | 31,243 | $3.35B | $27.9M | $44.2M |
| 2018 | 5 | 32,180 | $3.09B | $28.5M | $42.7M |
| 2017 | 5 | 32,416 | $2.90B | $29.9M | $43.9M |
| 2016 | 5 | 31,590 | $2.85B | $45.0M | $42.4M |
| 2015 | 5 | 30,733 | $2.67B | $43.7M | $40.6M |
| 2014 | 5 | 31,640 | $2.57B | $40.6M | $37.7M |
| 2013 | 5 | 30,222 | $2.44B | $42.2M | $34.8M |
| 2012 | 4 | 22,476 | $1.46B | $19.9M | $33.8M |
| 2011 | 5 | 29,137 | $1.90B | $43.0M | $32.5M |
| 2010 | 5 | 28,720 | $1.78B | $39.1M | $31.7M |
| 2009 | 4 | 22,071 | $1.06B | $15.4M | $30.9M |
History of the plans listed above, in the years each filed the full Form 5500 with 100 or more participants. Plans that have since terminated are not included.
Service providers
| Organisation | Services reported | Plans | Compensation reported |
|---|---|---|---|
| Meketa Fiduciary Management | Consulting (pension); Investment advisory (plan); Named fiduciary | 5 | $1,418,000 |
| CBIZ Retirement Plan Services | Contract Administrator; Recordkeeping and information management | 2 | $438,904 |
| US Bank NA | Trustee (bank, trust company, or similar financial institution) | 2 | $382,116 |
| Empower Annuity Insurance Company | Recordkeeping and information management; Participant loan processing | 3 | $333,285 |
| Willis Towers Watson | Actuarial; Consulting (pension) | 2 | $114,948 |
| Ernst & Young LLP | Accounting (including auditing); Legal | 4 | $101,714 |
| Pension Benefit Information LLC | Participant communication | 2 | $59,771 |
| Dorsey & Whitney LLP | Legal; Accounting (including auditing) | 4 | $53,753 |
| Ernst & Young US LLP | Accounting (including auditing) | 1 | $35,000 |
| Via Actuarial | Actuarial | 2 | $17,996 |
| Van Iwaarden Associates | Other services | 2 | $12,165 |
| State Street Global Advisors Trust | Investment advisory (plan) | 1 | $5,040 |
| Charles Schwab & Co. Inc. | Securities brokerage | 3 | $2,505 |
Organisations paid $5,000 or more by any of these plans, from Schedule C. Individuals are not shown.
Questions and answers
How many retirement plans does Hormel Foods Corporation have?
5 plans with 100 or more participants filed Form 5500 under its employer identification number for the latest plan years: Hormel Foods Corporation Pension Plan, Hormel Foods Corporation Hourly Employees' Pension Plan, Hormel Foods Corporation Tax Deferred Investment Plan a * and Hormel Foods Corporation Joint Earnings Profit Sharing Trust and others. Smaller plans and plans filed under a subsidiary's number are not grouped here.
How much does Hormel Foods Corporation contribute to its plans?
$30,810,573 in employer contributions across these plans in their latest plan years, about $1,381 per active participant record. Form 5500 reports totals and not the match or accrual formula.
Who provides services to these plans?
Schedule C filings name Meketa Fiduciary Management, CBIZ Retirement Plan Services, US Bank NA and Empower Annuity Insurance Company and others. Only organisations paid $5,000 or more by a plan are listed on Schedule C.
Where does this come from?
Form 5500 annual reports filed with the Department of Labor's EFAST2 system, from the EBSA research files, with filings received through 24 Aug 2026. Figures are as filed and may be amended.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Plans are grouped by the sponsor's employer identification number exactly as filed; a company that files under several EINs appears as several employers. See the methodology and corrections.