Retirement plan

HORMEL FOODS CORPORATION TAX DEFERRED INVESTMENT PLAN B

Name: HORMEL FOODS CORPORATION - HORMEL FOODS CORPORATION TAX DEFERRED INVESTMENT PLAN B (2018) Form 5500
Creator: HORMEL FOODS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HORMEL FOODS CORPORATION TAX DEFERRED INVESTMENT PLAN B, HORMEL FOODS CORPORATION

HORMEL FOODS CORPORATIONEIN 41-0319970Plan #051PY 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 #030Retirement-$500.7M assets #002Retirement-$339.9M assets

Prospect flagsCorrective distributions

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)

$234.5M

+12.0% from 2017

Total participants

4,725

+3.3% from 2017

Average account balance

$52,000

+9.4% from 2017

Annual return

15.12%

+18.44 pp from 2017

Benchmarks

See 219 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort219 peers

Snapshot2018

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$191.51M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

3,722

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.

89.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+5.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$49

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 14 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSMUTUAL Service code 50 · EIN 04-1590850	Direct Payment	$195,171
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 33 · EIN 04-1590850	Securities brokerage; Other insurance...	$121,394
STATE STREET GLOBAL ADVISORS2 years Filed as: STATE STREET GLOBAL ADVISORS TRUST Service code 15 · EIN 81-4017137	Recordkeeping	$25,436
ERNST & YOUNG LLP1 year Service code 50 · EIN 34-6565596	Direct Payment	$21,700
DORSEY & WHITNEY LLP1 year Service code 50 · EIN 41-0223337	Direct Payment	$7,026
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO, INC. Service code 59 · EIN 94-1737782	Shareholder Servicing	$916
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
HARBOR1 year Service code 52 · EIN 34-1953393	Indirect Investment Fees	$0
MERIDIAN1 year Service code 52 · EIN 68-0024203	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2H2J2K2O2R2S2T3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$410K

$100 / participant

Investment mgmt$33K8.1%
Contract admin$316K77.1%
Other / not subdivided$61K14.8%

% of EOY assets

0.175%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,000

$77,559-33.0%

$68,793-24.4%

$75,289-30.9%

Participation rate

94.7%

78.3%+16.4pp

72.2%+22.5pp

72.4%+22.3pp

Annual return

15.12%

-1.01%+16.1pp

-4.63%+19.8pp

-0.04%+15.2pp

Employer contribution / active EE

$624

$1,993-68.7%

$2,625-76.2%

$2,405-74.1%

Participant deferral / active EE

$2,077

$3,128-33.6%

$3,311-37.3%

$3,739-44.4%

Admin fee / account holder

$91

$90+0.6%

$5,131-98.2%

$102-11.1%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSMUTUAL

Service code 50 · EIN 04-1590850

Direct Payment

$195,171

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 33 · EIN 04-1590850

Securities brokerage; Other insurance...

$121,394

STATE STREET GLOBAL ADVISORS2 years

Filed as: STATE STREET GLOBAL ADVISORS TRUST

Service code 15 · EIN 81-4017137

Recordkeeping

$25,436

ERNST & YOUNG LLP1 year

Service code 50 · EIN 34-6565596

Direct Payment

$21,700

DORSEY & WHITNEY LLP1 year

Service code 50 · EIN 41-0223337

Direct Payment

$7,026

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 59 · EIN 94-1737782

Shareholder Servicing

$916

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

HARBOR1 year

Service code 52 · EIN 34-1953393

Indirect Investment Fees

MERIDIAN1 year

Service code 52 · EIN 68-0024203

Indirect Investment Fees

HORMEL FOODS CORPORATION TAX DEFERRED INVESTMENT PLAN B

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HORMEL FOODS CORPORATION TAX DEFERRED INVESTMENT PLAN B

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