Kraft Heinz Company Pension Plan
corporate plan · Kraft Heinz Company · Chicago, IL
Kraft Heinz Company Pension Plan is overfunded: 117% funding ratio — assets ($3.2B) exceed actuarial liabilities ($2.7B). Overfunded plans are unusual in U.S. pension data; most either took advantage of strong investment returns over multiple years or carry the surplus from a closed/frozen plan.
Kraft Heinz Company Pension Plan is a corporate pension plan sponsored by Kraft Heinz Company — a single-employer defined-benefit plan governed by ERISA and insured by the Pension Benefit Guaranty Corporation (PBGC). Corporate plans peaked in U.S. usage in the 1980s and have been in steady decline since, mostly replaced by 401(k) plans. The plan remains active — accruing new benefits for current employees and accepting new participants. Among private-sector single-employer plans, the active status is increasingly rare as employers freeze accruals while continuing to fund existing obligations; public-sector plans are more often still actively accruing.
The plan is mid-sized: $3.2B in assets, 29,036 participants (3,413 active, 22,748 retired). Mid-sized plans often outsource investment management to institutional advisors and follow standard actuarial conventions. Participant mix skews toward retirees (22,748 retired vs 3,413 active) — a mature plan paying out more than it accrues. Mature plans need stable investment returns plus sponsor contributions to keep the funded ratio steady; the cash-flow profile is increasingly net-negative. Annual cash flows: $150M in sponsor contributions versus $350M in benefit payments. Investment performance over the most recent year ran 6.5%, against the plan's assumed long-term return of 5.5%.
On PBGC risk classification: low — the plan's funded status and solvency trajectory are favorable enough that PBGC intervention is not on the near-term horizon. Corporate ERISA plans like Kraft Heinz Company Pension Plan carry PBGC insurance, which guarantees retiree benefits up to a federally-set maximum even if the sponsor defaults. The guarantee is meaningful but capped — high earners may see benefit haircuts in a termination scenario.
Source: DOL EFAST2 Form 5500 filings and Boston College CRR Public Plans Database.
Funding History
What This Means for You
Kraft Heinz Company Pension Plan is in excellent financial health at 117% funded. This means for every dollar the plan owes in future benefits, it has 117 cents in assets to cover it. This plan is also covered by the PBGC, providing an additional safety net. Participants in this plan have relatively low risk of benefit reductions.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $3.2B | $2.7B | 116.7% | $150.0M |
| 2022 | $3.1B | $4.4B | 69.0% | $145.5M |
| 2021 | $3.0B | $4.1B | 72.0% | $141.0M |
| 2020 | $2.9B | $4.4B | 66.0% | $136.5M |
| 2019 | $2.8B | $4.1B | 68.0% | $132.0M |
Frequently Asked Questions
Kraft Heinz Company Pension Plan is 117% funded, meaning it has 117 cents in assets for every dollar in future benefit obligations. This is considered healthy by actuarial standards.
Kraft Heinz Company Pension Plan has 29,036 total participants, including 3,413 active employees and 22,748 retirees currently receiving benefits.
Yes, Kraft Heinz Company Pension Plan is covered by the Pension Benefit Guaranty Corporation (PBGC), which provides a backstop if the plan cannot pay benefits. The PBGC risk level is currently "low."
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.