Retirement plan

HORMEL FOODS CORPORATION JOINT EARNINGS PROFIT SHARING TRUST

Name: HORMEL FOODS CORPORATION - HORMEL FOODS CORPORATION JOINT EARNINGS PROFIT SHARING TRUST (2018) Form 5500
Creator: HORMEL FOODS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HORMEL FOODS CORPORATION JOINT EARNINGS PROFIT SHARING TRUST, HORMEL FOODS CORPORATION

HORMEL FOODS CORPORATIONEIN 41-0319970Plan #030PY 2018

1 HORMEL PLACE - AUSTIN, MN 55912507-437-5722hormelfoods.comLinkedIn10001+ employeesconsumer goods

Other plans on this EIN

4 filings

#001Retirement-$967.0M assets #050Retirement-$862.5M assets #002Retirement-$339.9M assets #051Retirement-$234.5M assets

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed February 27, 2003

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$500.7M

+5.3% from 2017

Total participants

5,296

-2.1% from 2017

Average account balance

$104,934

+8.0% from 2017

Annual return

13.78%

+8.66 pp from 2017

Benchmarks

See 219 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort219 peers

Snapshot2018

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$424.32M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$73K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

5,812

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

97.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.42M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+8.41%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$35

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 10 of 17 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSMUTUAL Service code 50 · EIN 04-1590850	Direct Payment	$112,992
STATE STREET GLOBAL ADVISORS1 year Filed as: STATE STREET GLOBAL ADVISORS TRUST Service code 15 · EIN 81-4017317	Recordkeeping	$50,971
ERNST & YOUNG LLP1 year Filed as: ERNST & YOUNG Service code 50 · EIN 34-6565596	Direct Payment	$21,700
WILLIS TOWERS WATSON US LLC3+ years Filed as: TOWERS WATSON INVESTMENT SERVICES Service code 27 · EIN 52-1868818	Advisory (Plan)	$15,138
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 33 · EIN 04-1590850	Other insurance wrap fees; Sub-transf...	$12,072
VAN IWAARDEN ASSOCIATES1 year Service code 50 · EIN 41-1894458	Direct Payment	$6,442
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO, INC Service code 59 · EIN 94-1737782	Shareholder Servicing	$1,372
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO, INC. Service code 59	Shareholder Servicing	$0
DIMENSIONAL FUND ADVISORS1 year Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
DODGE & COX1 year Service code 52 · EIN 94-6067274	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2K2R2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$270K

$63 / participant

Investment mgmt$69K25.6%
Contract admin$121K44.7%
Other / not subdivided$80K29.7%

% of EOY assets

0.054%

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: ERNST & YOUNG LLP
Auditor EIN: 346565596
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$104,934

$77,559+35.3%

$68,612+52.9%

$75,289+39.4%

Participation rate

87.7%

78.3%+9.4pp

72.2%+15.5pp

72.4%+15.3pp

Annual return

13.78%

-1.01%+14.8pp

-4.63%+18.4pp

-0.04%+13.8pp

Employer contribution / active EE

$2,811

$1,993+41.1%

$2,625+7.1%

$2,405+16.9%

Participant deferral / active EE

$3,128-100.0%

$3,311-100.0%

$3,739-100.0%

Admin fee / account holder

$57

$90-37.4%

$5,131-98.9%

$102-44.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSMUTUAL

Service code 50 · EIN 04-1590850

Direct Payment

$112,992

STATE STREET GLOBAL ADVISORS1 year

Filed as: STATE STREET GLOBAL ADVISORS TRUST

Service code 15 · EIN 81-4017317

Recordkeeping

$50,971

ERNST & YOUNG LLP1 year

Filed as: ERNST & YOUNG

Service code 50 · EIN 34-6565596

Direct Payment

$21,700

WILLIS TOWERS WATSON US LLC3+ years

Filed as: TOWERS WATSON INVESTMENT SERVICES

Service code 27 · EIN 52-1868818

Advisory (Plan)

$15,138

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 33 · EIN 04-1590850

Other insurance wrap fees; Sub-transf...

$12,072

VAN IWAARDEN ASSOCIATES1 year

Service code 50 · EIN 41-1894458

Direct Payment

$6,442

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO, INC

Service code 59 · EIN 94-1737782

Shareholder Servicing

$1,372

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 59

Shareholder Servicing

DIMENSIONAL FUND ADVISORS1 year

Service code 52 · EIN 36-3129984

Indirect Investment Fees

DODGE & COX1 year

Service code 52 · EIN 94-6067274

Indirect Investment Fees

HORMEL FOODS CORPORATION JOINT EARNINGS PROFIT SHARING TRUST

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HORMEL FOODS CORPORATION JOINT EARNINGS PROFIT SHARING TRUST

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion