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Private Equity in Conagra Brands 401(k) Plans: What Employees Should Know

Healthcare Provider Update: Healthcare Provider for Conagra Brands: For Conagra Brands, the healthcare provider information is typically linked to their employment benefits and can vary based on the location and specific plans offered to employees. Generally, large companies like Conagra may partner with major insurers such as UnitedHealthcare, Anthem (Elevance Health), or Aetna to provide health insurance benefits to their employees. It is advisable for Enrolled members to refer to their HR department or employee benefit documentation for specific provider details. Potential Healthcare Cost Increases in 2026: As we look ahead to 2026, significant increases in healthcare costs are anticipated, largely influenced by the expiration of enhanced federal subsidies under the Affordable Care Act (ACA). Reports indicate that premium rates for ACA marketplace plans could rise by over 60% in certain states due to higher medical expenses and market adjustments. Notably, a staggering 92% of policyholders may face a potential increase in their out-of-pocket premiums by more than 75%, reflecting the compounded effect of expiring subsidies and aggressive rate hikes from leading insurers. This perfect storm may lead to many consumers being priced out of essential healthcare coverage, forcing a reevaluation of their insurance options as financial pressures mount. Click here to learn more

'Conagra Brands employees should carefully weigh transparency, costs, and flexibility when evaluating new 401(k) options, as thoughtful planning today can make a meaningful difference in retirement outcomes.' — Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Conagra Brands employees navigating evolving 401(k) choices should focus on understanding fees, liquidity, and long-term impact to help align their retirement strategies with their personal goals.' — Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

The opportunities and risks of private equity’s entry into 401(k) retirement plans.
The impact of fees, transparency, and liquidity on long-term retirement outcomes.
Key considerations Conagra Brands employees should weigh before adding private equity to their portfolios.

For several years, private equity firms have been seeking access to corporate retirement plans, which could affect the investment choices available in 401(k) accounts. Traditionally, these alternative investments have been limited to wealthy and institutional investors, who provide private equity firms with funds they can use to buy equity stakes in unlisted private companies. Under the Employee Retirement Income Security Act (ERISA), however, private equity funds have been excluded from most workplace retirement plans due to their high fees, limited liquidity, and opaque reporting requirements. ¹

New federal guidelines may be shifting this landscape. In an Executive Order issued in August 2025, the Trump administration supported access to alternative assets for 401(k) investors. ² While these changes may broaden diversification opportunities, they also raise questions about appropriateness, costs, and transparency for Conagra Brands employees planning their retirement. 'It's a historic change in access, but it's also a time that calls for caution,' said Neva Bradley of Wealth Enhancement. Although private equity may offer diversification benefits, a higher risk profile and less transparent pricing require careful consideration.

Juggling Promise and Risk

Private equity funds have historically delivered strong long-term returns, ³ but more recent conditions have narrowed the edge over traditional stock indexes. ⁴ Rising interest rates and volatile markets have made performance less consistent, which is an important factor for Conagra Brands workers evaluating retirement strategies. While opportunities for gains remain, the trade-off in volatility cannot be ignored.

Fee structures complicate matters further. Compared to low-cost index funds, private equity investments involve multiple layers of expenses. According to Bradley, 'the fee structures and volatility can significantly reduce those gains over time.' Conagra Brands employees should note that these fees can be ten times higher than standard 401(k) options, ⁵ which can diminish long-term compounding.

Challenges of Transparency

One of the largest differences between mutual funds and private equity is reporting. Mutual funds tend to publish daily prices and transparent performance updates, while private equity reports are typically quarterly and valuations are often based on estimates. ¹ This lack of standard benchmarks can make it difficult for even seasoned investors to evaluate performance consistently. For Conagra Brands participants, this means private equity may feel less straightforward than traditional investment choices.

The Cost Aspect

Private equity is also known for its high fees. Typical structures include a 1% to 2% annual management charge plus performance-based incentives, compared to about 0.25% for many mutual funds. ¹ Over decades, these higher costs compound, especially for retirement accounts where long-term growth is important. As Bradley points out, 'those costs compound over decades,' underscoring the need to weigh fees against potential returns.

Important Things to Consider for Retirement Planning

For Conagra Brands employees who may encounter private equity options in their 401(k), here are some key considerations:

Liquidity: Investments are often locked in for years with limited access.
Costs: Carefully review and compare fee structures.
Timeline: Private equity may lack the flexibility needed closer to retirement.
Diversification: If included, it should represent only a small portion of the portfolio.

Bradley summarized, 'Private equity is not a panacea, but it can contribute to complex portfolios.' Conagra Brands participants should evaluate transparency, fees, and personal risk tolerance before making decisions.

One notable development is that target-date funds that include private equity and private credit holdings have been shown to potentially boost retirement income by 5% to 15% over 40 years, ⁶ provided top-tier managers are selected. For Conagra Brands employees, this underscores both the opportunity and the complexity of integrating private equity into a long-term plan.

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Sources:

1. Investopedia. ' Private Equity is Coming for Your 401(k): How to Protect Yourself ,' by Daniel Liberto. 17 Jan. 2025.

2. The White House, Presidential Actions. ' Democratizing Access to Alternative Assets for 401(k) Investors ,' Executive Orders. 7 Aug. 2025.

3. Institutional Investor. ' Why Private Equity Wins ,' by Dawson Partners. 24 Mar. 2025.

4. Morningstar. ' How Attractive Is Private Equity? ' by Jack Shannon. 11 June 2025.

5. Investopedia. ' Private Equity Explained With Examples and Ways To Invest ,' by James Chen. 2 Sep. 2025.

6. BlackRock Advisor Center. ' How private markets could improve retirement outcomes ,' by BlackRock Retirement Perspectives. 26 Jun. 2025.

How does Conagra Brands, Inc. ensure that employees understand their retirement benefits, particularly the nuances of the Conagra Foods Inc. Pension Plan and the historical obligations from the Beatrice Retirement Income Plan (BRIP)? Are there specific communication strategies or resources provided to employees to navigate their eligibility and benefits?

Conagra Brands has not provided consistent documentation of the Beatrice Retirement Income Plan (BRIP), as evidenced by a lost BRIP Plan document, which has created confusion among former Beatrice employees. Conagra relies on internal committees like the Conagra Brands Employee Benefits Administrative Committee to oversee the administration of the Conagra Foods Inc. Pension Plan and the historical obligations from BRIP. However, there are allegations in the class action that Conagra has failed to communicate certain benefit entitlements, particularly the age at which unreduced benefits should commence(Conagra_Brands_Inc_02-1…).

In light of regulatory compliance, what measures does Conagra Brands, Inc. take to maintain the integrity and security of pension plan documents, especially considering the historical loss of the BRIP Plan document? How do the missing documents impact employee knowledge of their benefits?

The loss of the BRIP Plan document represents a significant failure in document retention and regulatory compliance. Under ERISA, Conagra is required to maintain and distribute these documents upon request. The missing BRIP documents have caused discrepancies in the administration of retirement benefits, particularly regarding the age of eligibility for unreduced benefits. Conagra has been criticized for not informing employees that these documents were lost, leading to confusion and underpayment of benefits(Conagra_Brands_Inc_02-1…).

What resources does Conagra Brands, Inc. offer to its employees who have questions about their pension benefits or discrepancies that may arise from the transition from the Beatrice Retirement Income Plan to the Conagra Foods Inc. Pension Plan? How can employees best utilize these resources?

Conagra directs employees to contact the Plan service center for inquiries related to their pension benefits. However, based on the complaints filed in court, there have been issues with transparency and the accessibility of important plan documents, including the BRIP. Employees have had to appeal their benefit decisions and deal with insufficient guidance on navigating the discrepancies between the old BRIP and the Conagra Plan. Resources like benefit calculators and service centers have sometimes provided inaccurate or incomplete information(Conagra_Brands_Inc_02-1…).

How does Conagra Brands, Inc. handle the potential discrepancies regarding the pension benefits related to the age eligibility for receiving unreduced benefits in the context of both the Conagra Plan and the Beatrice plan? What steps have been taken to prevent similar issues in the future?

Conagra has been handling discrepancies poorly, particularly around the age at which participants in the BRIP are entitled to receive unreduced benefits. The company's adjustment of the eligibility age from 60 to 65 without properly consulting or notifying employees has led to underpayment of benefits. The ongoing class action lawsuit seeks to address these discrepancies and prevent future issues by clarifying benefit entitlements under the terms of both plans(Conagra_Brands_Inc_02-1…).

Can you elaborate on the process that Conagra Brands, Inc. utilizes to communicate with employees about plan amendments and to clarify their rights under the Conagra Foods Inc. Pension Plan? What specific improvements have been made to this communication strategy in recent years?

The communication process regarding plan amendments at Conagra has been criticized as insufficient, particularly concerning the transition from the BRIP to the Conagra Plan. Employees have filed complaints about not receiving adequate notice of important changes, such as the shift in eligibility age for unreduced benefits. Conagra has failed to provide clear documentation, leading to confusion among employees. There is no evidence of significant improvements in recent years(Conagra_Brands_Inc_02-1…).

How does Conagra Brands, Inc. ensure compliance with the Employee Retirement Income Security Act (ERISA), especially regarding the fiduciary duties of the Conagra Brands Employee Benefits Administrative Committee? What protocols are in place to guarantee that employeesâ€™ rights are consistently protected?

Conagra's compliance with ERISA has been challenged in court, with allegations of fiduciary breaches related to the loss of critical plan documents like the BRIP. The Conagra Brands Employee Benefits Administrative Committee is responsible for maintaining the integrity of the pension plan, but the loss of documents and failure to notify employees of their rights raise questions about the adequacy of these protocols. The lawsuit highlights a need for improved oversight and adherence to ERISA's fiduciary requirements(Conagra_Brands_Inc_02-1…).

What options are currently available for former Beatrice employees and other participants in the Conagra Foods Inc. Pension Plan to claim benefits they believe they are entitled to? How does Conagra Brands, Inc. facilitate this process?

Former Beatrice employees can contact the Pension Service Center to inquire about their benefits and initiate claims. However, the process has been complicated by missing documentation and conflicting information about eligibility. Some employees have been forced to file legal claims to recover benefits owed to them, as in the case of the ongoing class action lawsuit. The lack of clear and accessible resources has made it difficult for employees to navigate the process effectively(Conagra_Brands_Inc_02-1…).

In what ways does Conagra Brands, Inc. provide support or guidance for employees approaching retirement, particularly in understanding the timelines and responsibilities associated with electing benefits from the Conagra Foods Inc. Pension Plan?

Conagra provides online calculators and service center assistance for employees approaching retirement, but these tools have proven unreliable for some participants. Employees have reported being unable to calculate their benefits accurately or being told they were ineligible for benefits before age 65, despite the terms of the BRIP allowing benefits to begin at age 60. The class action complaint highlights deficiencies in the guidance provided to employees regarding their benefits(Conagra_Brands_Inc_02-1…).

How can employees at Conagra Brands, Inc. contact the Employee Benefits Administrative Committee for inquiries related to their benefits? What are the most efficient avenues for addressing concerns about the Conagra Foods Inc. Pension Plan or the transitions from the Beatrice plan?

Employees can contact the Plan service center for inquiries related to their benefits, but accessing the Employee Benefits Administrative Committee directly appears to be more challenging. The lawsuit indicates that employees seeking to address discrepancies with their benefits have not received timely or effective communication from the committee, often requiring legal action to resolve their concerns(Conagra_Brands_Inc_02-1…).

How does Conagra Brands, Inc. evaluate its pension plan's performance and benefits offerings in relation to industry standards? What methods are used to ensure the company remains competitive while protecting employee benefits under the Conagra Foods Inc. Pension Plan?

There is little publicly available information regarding how Conagra evaluates its pension plan's performance against industry standards. The company's handling of historical pension obligations, particularly from the Beatrice acquisition, suggests that its methods for protecting employee benefits have been insufficient. Ongoing litigation regarding underpayment of benefits and loss of critical documents indicates that the company may need to improve its evaluation methods and compliance efforts to remain competitive(Conagra_Brands_Inc_02-1…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Conagra Brands announced a restructuring plan aiming to streamline operations and reduce costs. This includes layoffs impacting various departments and potential changes to employee benefits.

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For more information you can reach the plan administrator for Conagra Brands at 222 W. Merchandise Mart Plaza Chicago, IL 60654; or by calling them at (312) 549-5000.