Mondelez Global Master Defined Contribution Trust

Manager selection follows an institutional RFP process run through the plan's investment consultant — often a firm like Aon, Mercer, or NEPC — which screens funds on fee structure, track record, capacity, and operational risk. Because 401(k) plans expose fiduciaries to participant litigation risk, the trust's Investment Committee relies heavily on consultant due diligence and ERISA Section 404(c) compliance frameworks. Final fund lineup decisions balance cost, historical performance, and diversification across the style box, with a strong preference for passive and factor-based strategies in the core equity and fixed-income tiers.

Mondelez inherited defined benefit pension obligations from Kraft Foods and continues to administer frozen legacy plans across the US and several international markets, primarily the UK and Canada. The defined contribution trust is operationally and legally separate from these defined benefit pools, with distinct governance, trustee structures, and asset allocations. Mondelez's annual report disclosed roughly $8.9 billion in aggregate global retirement obligations as of year-end 2022, with the defined contribution trust representing a growing portion as legacy DB plans are de-risked and wound down.