# Hormel Foods Corporation DB Plan
Source: https://planprovider.pro/companies/hormel-foods-corporation-plan-002

> Hormel Foods Corporation's DB plan: 2,780 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:** MN

- **Plan Type:** DB

- **Total Participants:** 2,780

- **Total Assets:** $332.5M

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

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

| 2024|2,780|$332.5M|$0|$0|

| 2023|2,658|$296.9M|$0|$0|

## 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|$18,300|—|$18,300|

### 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:** $18,300

- **Estimated Expense Ratio:** 0.006% 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|$2,185,206|$924,125|$10,200|$18,300|—|

| 2023|$2,080,534|$1,013,215|$191,728|—|$211,103|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/hormel-foods-corporation-plan-002)

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