Retirement plan
GENERAL MILLS PENSION PLAN I
GENERAL MILLS, INC.EIN 41-0274440Plan #006PY 2018
NUMBER 1 GENERAL MILLS BLVD BT02-C - MINNEAPOLIS, MN 55426763-764-7600generalmills.comLinkedIn10001+ employeesconsumer goods
Prospect flagsHigh retiree %Wind-down / frozen
Filing contacts
From the Form 5500, federal recordPlan administrator signer
KATE BEHRING
Signed 10/11/2019
Summary metrics
Total assets (EOY)
$2698.3M
-13.3% from 2019
Total participants
18,624
+0.3% from 2019
Average account balance
$0
No prior year
Annual return
0.00%
-20.08 pp from 2019
Benchmarks
Peer group
Industry31 - Manufacturing
Plan typeDefined benefit
Participants250-999
Cohort84 peers
Snapshot2018
0
Participant deferral / active EE
$0
median $0
0
Employer contribution / active EE
$0
median $4,965
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $29,558
0
Admin fee / account holder
$0
median $803
0
Annual return
0.00%
median -3.71%
Overall peer rank
0of 100
0th percentileavg across 6 metrics
Analytics
2018 - 2024
Total assets (EOY)
Plan-year ending balance
$3.71B
Average account balance
Total assets / participants with a balance (line 6g)
$167K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
20,291
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
Not enough data
0 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
Not enough data
0 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-2.32%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 8 by compensation
| Provider | Service type | Compensation |
|---|---|---|
AON CONSULTING, INC.1+ years Service code 11 · EIN 22-2232264 | Actuarial | $747,754 |
THE BANK OF NEW YORK MELLON1+ years Service code 18 · EIN 13-5160382 | Other investment fees and expenses; O... | $393,528 |
GENERAL MILLS, INC.1+ years Service code 50 · EIN 41-0274440 | Direct Payment | $363,374 |
KPMG, LLP1+ years Service code 10 · EIN 13-5565207 | Accounting | $73,371 |
XEROX CORPORATION1+ years Service code 99 · EIN 16-0468020 | Other Fees | $18,277 |
THOMSON REUTERS (MARKETS) LLC1+ years Service code 16 · EIN 20-4530702 | Consulting | $9,581 |
CAMBRIDGE ASSOCIATES, LLC1+ years Service code 50 · EIN 04-3515240 | Direct Payment | $9,562 |
ONECBIZ, INC.1+ years Service code 10 · EIN 20-1128317 | Accounting | $5,177 |
Enrolled actuary
1 attachment
SB
BRETT M. SWENSON
AON CONSULTING INC.
Enrollment #1705948
5600 WEST 83RD STREET
SUITE 1100, 8200 TOWER
MINNEAPOLIS, MN 554371024
(952) 886-8000
Signed 2019-10-07
Top hat statement on fileNQDC
Filed June 26, 2018 (most recent of 3 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
Number One General Mills Boulevard, M04-B
Minneapolis State: MN Zip Code: 55426
Plans declared (2)
- Supplemental Retirement Plan I of General Mills, Inc.378 emp
- Supplemental Retirement Plan I of General Mills, Inc. (Grandfathered)874 emp
Total covered: 1,252 employees
Plan features & details
Pension benefit codes1A
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
Opportunity flags
2 tripped
- InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
- InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
Expense breakdown
Schedule H Part II
Admin total
$1.6M
$2618 / participant
- Investment mgmt$35K2.2%
- Contract admin$520K32.1%
- Other / not subdivided$1M65.7%
% of EOY assets
0.060%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- KPMG LLP
- Auditor EIN
- 135565207
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified