# Hormel Foods Corporation 401(k) Plan
Source: https://planprovider.pro/companies/hormel-foods-corporation-401k-plan-050

> Hormel Foods Corporation's 401(k) plan: 4,987 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Hormel Foods Corporation

- **Sponsor EIN:** 410319970

- **Sponsor Address:** 1 HORMEL PLACE, AUSTIN, MN, 559123680

- **Plan Type:** 401(k)

- **Total Participants:** 4,987

- **Total Assets:** $1.2B

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** Yes

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|4,987|$1.2B|$20.7M|$47.3M|

| 2023|4,950|$1.1B|$16.2M|$43.1M|

| 2022|5,009|$1.0B|$7.6M|$8.2M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| ERNST& YOUNG, LLP|Auditor|$30,498|—|$30,498|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [ERNST& YOUNG, LLP](https://planprovider.pro/provider/ernst-and-young-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $30,498

- **Estimated Expense Ratio:** 0.003% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$432,904|$31,500|—|$30,498|—|

| 2023|$542,167|$264,208|—|$25,747|—|

| 2022|$22,909|$20,694|—|—|—|

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