# Hormel Foods Corporation 401(k) Plan
Source: https://planprovider.pro/companies/hormel-foods-corporation-401k-plan-051

> Hormel Foods Corporation's 401(k) plan: 3,221 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:** 3,221

- **Total Assets:** $191.6M

## 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|3,221|$191.6M|$2.3M|$8.1M|

| 2023|3,218|$188.5M|$2.0M|$7.5M|

| 2022|3,134|$207.9M|$744,809|$1.4M|

## 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|—|—|$0|

### 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:** $0

### 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|$219,189|$52,773|—|—|—|

| 2023|$237,075|$34,703|—|$55,800|—|

| 2022|$5,995|$5,790|—|—|—|

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