Employers › Hormel Foods › plan 050
Recordkeeping fees per participant · Hormel Foods Corporation Tax Deferred Investment Plan a * · plan year 2024
$53.24
Higher than 87% of the 790 plans over $1B that report it.
= $354,121 / 6,652
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250919134842NAL0001104899001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919134842NAL0001104899001, received 2025-09-19
Percentiles compare this plan with the Schedule H plans over $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
$60.34
Higher than 73% of the 1,045 plans over $1B that report it.
= $401,404 / 6,652
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250919134842NAL0001104899001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919134842NAL0001104899001, received 2025-09-19
Administrative expenses per participant
$65.08
Higher than 47% of the 1,076 plans over $1B that report it.
= $432,904 / 6,652
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250919134842NAL0001104899001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919134842NAL0001104899001, received 2025-09-19
Administrative expenses as a share of assets
0.037%
Higher than 40% of the 1,076 plans over $1B that report it.
= $432,904 / $1,160,623,275
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250919134842NAL0001104899001, received 2025-09-19
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250919134842NAL0001104899001, received 2025-09-19
Employer contributions per participant
$3,111
Higher than 40% of the 1,135 plans over $1B that report it.
= $20,692,822 / 6,652
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250919134842NAL0001104899001, received 2025-09-19
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919134842NAL0001104899001, received 2025-09-19
Employer share of total contributions
29.1%
Higher than 36% of the 1,135 plans over $1B that report it.
= $20,692,822 / $71,006,586
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250919134842NAL0001104899001, received 2025-09-19
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250919134842NAL0001104899001, received 2025-09-19
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 20250919134842NAL0001104899001, received 2025-09-19
| Field | Value | Source |
|---|---|---|
| Plan sponsor | HORMEL FOODS CORPORATION | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Plan name | HORMEL FOODS CORPORATION TAX DEFERRED INVESTMENT PLAN A * | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Sponsor EIN / plan number | 41-0319970 / 050 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Sponsor location | AUSTIN, MN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Industry (business code) | 311610, Manufacturing | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250919134842NAL0001104899001, 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 20250919134842NAL0001104899001, received 2025-09-19 |
| Filing received | 2025-09-19 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Participants, beginning of year | 7,305 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Active participants | 4,987 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Participants, end of year | 6,816 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Participants with an account balance | 6,652 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Total assets, beginning of year | $1,083,120,575 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Total assets, end of year | $1,160,623,275 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Net assets, end of year | $1,160,623,275 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Total income | $196,796,616 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Net income | $77,502,700 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Employer contributions | $20,692,822 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Participant contributions | $47,299,719 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Other contributions (incl. rollovers) | $3,014,045 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Total contributions | $71,006,586 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Benefit payments | $118,728,962 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Total expenses (incl. benefit payments) | $119,293,916 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Total administrative expenses | $432,904 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Contract administrator fees | $0 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Recordkeeping fees | $354,121 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| IQPA audit fees | $30,498 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Investment advisory and management fees | $31,500 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Administrative expenses excluding investment management | $401,404 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Held in master trusts | $0 | Schedule H, line 1c(11) col (b); INT_MASTER_TR_EOY_AMT pos 53; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Held in common/collective trusts | $813,748,294 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Held in mutual funds | $84,669,441 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250919134842NAL0001104899001, received 2025-09-19 |
| Independent auditor | ERNST& YOUNG, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250919134842NAL0001104899001, received 2025-09-19 |
Position = column in the DOL layout for form year 2024. Filing 20250919134842NAL0001104899001, received 2025-09-19.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANYrecordkeeper | NONE | 64 Recordkeeping fees; 50 Direct payment from the plan; 63 Distribution (12b-1) fees; 60 Sub-transfer agency fees; 62 Float revenue | $354,121 | yes |
| MEKETA FIDUCIARY MANAGEMENT LLC | NONE | 27 Investment advisory (plan) | $158,186 | no |
| STATE STREET GLOBAL ADVISORS TRUST | NONE | 27 Investment advisory (plan) | $31,500 | no |
| ERNST & YOUNG US LLP | NONE | 10 Accounting (including auditing) | $30,498 | no |
| DORSEY & WHITNEY LLP | NONE | 29 Legal | $9,985 | no |
| VAN IWAARDEN ASSOCIATES | NONE | 49 Other services | $6,800 | no |
| CHARLES SCHWAB & CO. INC. | NONE | 59 Shareholder servicing fees; 71 Securities brokerage commissions and fees; 33 Securities brokerage; 50 Direct payment from the plan | $1,127 | 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 20250919134842NAL0001104899001, received 2025-09-19.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $1,083,120,575 | $1,160,623,275 | 7.2% |
| Participants with a balance | 7,218 | 6,652 | -7.8% |
| Administrative expenses | $542,167 | $432,904 | -20.2% |
| Recordkeeping fees per participant | $31.92 | $53.24 | 66.8% |
| Employer contributions | $16,164,883 | $20,692,822 | 28.0% |
Prior filing 20240813093235NAL0005680099001, received 2024-08-13; the plan years are contiguous.