Employers › Hormel Foods
Recordkeeping fees per participant · Jennie-o Turkey Store Retirement Savings Plan · plan year 2024
$28.07
Higher than 24% of the 1,697 plans $250M to 1B that report it.
= $164,749 / 5,869
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250919135751NAL0005531586001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919135751NAL0005531586001, received 2025-09-19
Percentiles compare this plan with the Schedule H plans $250M to 1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-09-19.
Administrative expenses excluding investment management, per participant
$35.53
Higher than 20% of the 2,324 plans $250M to 1B that report it.
= $208,546 / 5,869
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250919135751NAL0005531586001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919135751NAL0005531586001, received 2025-09-19
Administrative expenses per participant
$42.59
Higher than 16% of the 2,405 plans $250M to 1B that report it.
= $249,935 / 5,869
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250919135751NAL0005531586001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919135751NAL0005531586001, received 2025-09-19
Administrative expenses as a share of assets
0.091%
Higher than 61% of the 2,407 plans $250M to 1B that report it.
= $249,935 / $274,470,244
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250919135751NAL0005531586001, received 2025-09-19
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250919135751NAL0005531586001, received 2025-09-19
Employer contributions per participant
$368
Higher than 2% of the 2,457 plans $250M to 1B that report it.
= $2,159,793 / 5,869
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250919135751NAL0005531586001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919135751NAL0005531586001, received 2025-09-19
Employer share of total contributions
15.7%
Higher than 8% of the 2,459 plans $250M to 1B that report it.
= $2,159,793 / $13,735,805
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250919135751NAL0005531586001, received 2025-09-19
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250919135751NAL0005531586001, received 2025-09-19
Eligibility
“A year of eligibility service would be a year beginning with the first day of employment in which an employee worked 1,000 hours or any subsequent fiscal year in which an employee works 1,000 hours.”
Form 11-K filed 2026-06-09, for the year ended 2025-12-31 · plan description note, general (fallback) · source document
Automatic enrollment
“Certain participants hired on or after November 11, 2015 and automatically enrolled will have their contribution percentage increased by 1% the following year.”
Form 11-K filed 2026-06-09, for the year ended 2025-12-31 · plan description note, general · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2R participant brokerage window · 2S pre-approved plan document · 2T default investment (QDIA) · 3H controlled-group sponsor · 2O ESOP-related feature · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250919135751NAL0005531586001, received 2025-09-19
| Field | Value | Source |
|---|---|---|
| Plan sponsor | JENNIE-O TURKEY STORE, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Plan name | JENNIE-O TURKEY STORE RETIREMENT SAVINGS PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Sponsor EIN / plan number | 41-0734466 / 003 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Sponsor location | WILLMAR, MN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Industry (business code) | 311610, Manufacturing | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Filing received | 2025-09-19 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Participants, beginning of year | 6,161 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Active participants | 4,996 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Participants, end of year | 6,023 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Participants with an account balance | 5,869 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Total assets, beginning of year | $268,923,352 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Total assets, end of year | $274,470,244 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Net assets, end of year | $274,470,244 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Total income | $40,343,381 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Net income | $5,546,892 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Employer contributions | $2,159,793 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Participant contributions | $11,532,510 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Other contributions (incl. rollovers) | $43,502 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Total contributions | $13,735,805 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Benefit payments | $34,105,602 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Total expenses (incl. benefit payments) | $34,796,489 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Total administrative expenses | $249,935 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Contract administrator fees | $0 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Recordkeeping fees | $164,749 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| IQPA audit fees | $33,700 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Investment advisory and management fees | $41,389 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Administrative expenses excluding investment management | $208,546 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Held in master trusts | $0 | Schedule H, line 1c(11) col (b); INT_MASTER_TR_EOY_AMT pos 53; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Held in common/collective trusts | $217,814,288 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Held in mutual funds | $3,736,556 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250919135751NAL0005531586001, received 2025-09-19 |
| Independent auditor | ERNST & YOUNG, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250919135751NAL0005531586001, received 2025-09-19 |
Position = column in the DOL layout for form year 2024. Filing 20250919135751NAL0005531586001, received 2025-09-19.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANYrecordkeeper | NONE | 64 Recordkeeping fees; 63 Distribution (12b-1) fees; 50 Direct payment from the plan; 62 Float revenue; 60 Sub-transfer agency fees | $164,749 | yes |
| MEKETA FIDUCIARY MANAGEMENT LLC | NONE | 27 Investment advisory (plan) | $39,589 | no |
| ERNST & YOUNG US LLP | NONE | 10 Accounting (including auditing) | $33,700 | no |
| VAN IWAARDEN ASSOCIATES | NONE | 99 Other fees | $6,088 | no |
| CHARLES SCHWAB & CO. INC. | NONE | 59 Shareholder servicing fees; 71 Securities brokerage commissions and fees | $7 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250919135751NAL0005531586001, received 2025-09-19.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $268,923,352 | $274,470,244 | 2.1% |
| Participants with a balance | 5,990 | 5,869 | -2.0% |
| Administrative expenses | $356,573 | $249,935 | -29.9% |
| Recordkeeping fees per participant | $36.52 | $28.07 | -23.1% |
| Employer contributions | $1,994,270 | $2,159,793 | 8.3% |
Prior filing 20240813092505NAL0005671763001, received 2024-08-13; the plan years are contiguous.
Sponsor name as filed: JENNIE-O TURKEY STORE, INC.; SEC registrant: HORMEL FOODS CORP /DE/ (CIK 48465, matched by 11-K plan title; display name from the Form 11-K cover).