PlanOptica
Retirement plan

3M EMPLOYEE RETIREMENT INCOME PLAN

3M COMPANYEIN 41-0417775Plan #002PY 2016
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3M CENTER 224-2W-15 - ST. PAUL, MN 551441000651-737-46113m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filings
#333Retirement-$10.74B assets#013Retirement-$287.1M assets#006Retirement--
Prospect flagsHigh retiree %Low returnsLow participation

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(651) 737-4611
Plan administrator signer
JULIE OTTO
Signed 10/13/2017
How to read this page

Summary metrics

Total assets (EOY)
$15566.1M
-1.9% from 2016
Total participants
70,972
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
5.00%
-8.72 pp from 2016

Benchmarks

See 32 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined benefit
Participants>=10,000
Cohort32 peers
Snapshot2016
Participant deferral / active EE
$0
median $61
Employer contribution / active EE
$20,442
median $5,746
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $40,289
Admin fee / account holder
$0
median $312
Annual return
5.00%
median 7.59%
Overall peer rank
23rd percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$8.88B
Average account balance
Total assets / participants with a balance (line 6g)
$355K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
18,529
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$800.00M
Contributions per participant
Average employer and participant contribution per enrolled participant
$44K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-16.05%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 46 by compensation
ProviderService typeCompensation
PIMCO LLC2+ years
Service code 28 · EIN 33-0629048
Investment Management
$3,330,064
FRANCHISE PARTNERS2+ years
Service code 28
Investment Management
$3,116,333
HEWITT ASSOCIATES LLC2+ years
Service code 11 · EIN 36-2235791
Actuarial
$3,077,207
BNY MELLON2+ years
Service code 18 · EIN 13-5160382
Trustee (bank, trust company, or simi...
$2,845,574
NISA INVESTMENT ADVISORS, LLC2+ years
Service code 28 · EIN 48-1140940
Investment Management
$2,469,621
GSO CAPITAL OPPORTUNITIES2+ years
Service code 28 · EIN 98-0682501
Investment Management
$2,326,627
BAILLIE GIFFORD OVERSEAS LTD2+ years
Service code 28 · EIN 22-3438530
Investment Management
$2,289,384
OAKTREE CAPITAL MANAGEMENT, L.P.2+ years
Service code 28 · EIN 26-0189082
Investment Management
$2,190,172
BOSTON PARTNERS GLOBAL INVESTORS1 year
Service code 28 · EIN 98-0202744
Investment Management
$1,979,479
ACADIAN2+ years
Service code 28 · EIN 04-2919221
Investment Management
$1,588,764

Enrolled actuary

1 attachment
SB

PETER J. HAUGEN

AON CONSULTING, INC.
Enrollment #1705198
5600 W. 83RD STREET
8200 TOWER, SUITE 1100
MINNEAPOLIS, MN 55437
(952) 886-8000
Signed 2017-09-27

Plan features & details

Pension benefit codes1A1C1E3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped
  • OpportunityLow participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II
Admin total
$41.5M
$2118 / participant
  • Investment mgmt$29M69.8%
  • Contract admin$4M9.6%
  • Other / not subdivided$9M20.6%
% of EOY assets
0.266%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm
CLIFTONLARSONALLEN LLP
Auditor EIN
410746749
Audit fees
(not subdivided)
Opinion code
Disclaimer