Retirement plan

SMITHFIELD FOODS, INC. SALARIED 401(K) PLAN

Name: SMITHFIELD FOODS INCORPORATED - SMITHFIELD FOODS, INC. SALARIED 401(K) PLAN (2024) Form 5500
Creator: SMITHFIELD FOODS INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SMITHFIELD FOODS, INC. SALARIED 401(K) PLAN, SMITHFIELD FOODS INCORPORATED

SMITHFIELD FOODS INCORPORATEDEIN 52-0845861Plan #002PY 2024

1911 S. CHURCH ST - SMITHFIELD, VA 23430866-551-9423smithfieldfoods.comLinkedIn10001+ employeesfood production

Other plans on this EIN

4 filings

#001Retirement-$1.35B assets #009Retirement-$418.7M assets #004Retirement-$340.0M assets #003Retirement-$193.6M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed April 22, 2025 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

200 Commerce St.

Smithfield, VA 23430

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Plans declared (1)

Smithfield Foods, Inc., Executive Severance Plan10 emp

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Total assets (EOY)

$767.3M

-9.4% from 2016

Total participants

6,328

+201.3% from 2016

Average account balance

$124,343

-37.8% from 2016

Annual return

15.13%

-7.34 pp from 2016

Benchmarks

See 154 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants1,000-4,999

Cohort154 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$767.32M

Not enough data

1 years with asset history on file

Average account balance

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

$124K

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.

6,171

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.

96.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$67.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+15.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$47

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping	$286,993
QDRO CONSULTANTS COMPANY, LLC2 years Service code 16 3071 PEARL ROAD · MEDINA, OH 44256	Consulting	$3,600
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER FINANCIAL SERVICES, INC. Service code 26 · EIN 84-0965407	Advisory (Participants)	$1,556

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

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.
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.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$291K

$64 / participant

Recordkeeping$287K98.8%
Other / not subdivided$4K1.2%

% of EOY assets

0.038%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KREISCHER MILLER
Auditor EIN: 231980475
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$124,343

$148,970-16.5%

$133,698-7.0%

$200,096-37.9%

Participation rate

96.5%

79.4%+17.2pp

76.4%+20.1pp

72.0%+24.5pp

Annual return

15.13%

27.07%-11.9pp

580.90%-565.8pp

34.26%-19.1pp

Employer contribution / active EE

$6,461

$3,561+81.4%

$4,218+53.2%

$3,038+112.7%

Participant deferral / active EE

$8,400

$6,140+36.8%

$7,016+19.7%

$5,090+65.0%

Admin fee / account holder

$47

$144-67.3%

$6,703-99.3%

$269-82.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 15

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping

$286,993

QDRO CONSULTANTS COMPANY, LLC2 years

Service code 16

3071 PEARL ROAD · MEDINA, OH 44256

Consulting

$3,600

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER FINANCIAL SERVICES, INC.

Service code 26 · EIN 84-0965407

Advisory (Participants)

$1,556

SMITHFIELD FOODS, INC. SALARIED 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMITHFIELD FOODS, INC. SALARIED 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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