Conagra Brands, Inc. 401(k) Review & Grade
Conagra Brands Retirement Income Savings Plan for Union Employees
Chicago, ILManufacturing8,736 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$719Employer $ per active participant
$1,812Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$224.2MNet plan assets, end of year
$50,037Average balance per account
Score breakdown
- Employer generosity3.8 / 508th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving0.9 / 156th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 47th |
| Employee saving | 6th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Conagra Brands put in about $719 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $6,277,952 |
| Participant (employee) contributions | $15,832,049 |
| Other contributions (incl. rollovers in) | $444,243 |
| Administrative expenses paid from the plan | $291,516 |
| Investment advisory & management fees | $1,200 |
| Benefits paid out | $26,710,113 |
| Net assets, start / end of year | $210.6M / $224.2M |
| Active participants, start / end of year | 8,551 / 8,921 |
| Participants with account balances | 4,480 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lutz & Company, P.C. |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $264,316 reported compensation |
| Lutz & Company, PC | $26,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250826135025NAL0015186032001, received 2025-08-26, EIN 47-0248710, plan #019, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.