Conagra Brands, Inc. 401(k) Review & Grade
Conagra Brands Retirement Income Savings Plan
Chicago, ILManufacturing23,336 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,509Employer $ per active participant
$2,371Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.7BNet plan assets, end of year
$130,624Average balance per account
Score breakdown
- Employer generosity9.3 / 5019th percentile for employer $ per participant
- Low cost16.6 / 2566th 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 score37 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 66th |
| Employee saving | 6th |
| Peers that auto-enroll | 69% |
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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 $2,509 per active participant, below the typical peer ($5,480). 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 | $58,556,611 |
| Participant (employee) contributions | $55,339,306 |
| Other contributions (incl. rollovers in) | $7,224,473 |
| Administrative expenses paid from the plan | $977,851 |
| Investment advisory & management fees | $151,779 |
| Other admin expenses | $4,499 |
| Benefits paid out | $306,867,823 |
| Net assets, start / end of year | $1.7B / $1.7B |
| Active participants, start / end of year | 23,400 / 23,273 |
| Participants with account balances | 13,298 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lutz & Company,p.c. |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $781,573 reported compensation |
| Mercer | $151,779 reported compensation |
| Lutz & Company, PC | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250826134737NAL0015182848001, received 2025-08-26, EIN 47-0248710, plan #014, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.