Retirement plan
3M EMPLOYEE RETIREMENT INCOME PLAN
3M COMPANYEIN 41-0417775Plan #002PY 2017
3M CENTER 224-2W-15 - ST. PAUL, MN 551441000651-737-46113m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filingsProspect flagsHigh retiree %Low participation
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JULIE OTTO
Signed 10/12/2018
Summary metrics
Total assets (EOY)
$17489M
-1.9% from 2016
Total participants
69,390
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
12.93%
-8.72 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined benefit
Participants>=10,000
Cohort31 peers
Snapshot2017
0
Participant deferral / active EE
$0
median $19
60
Employer contribution / active EE
$44,155
median $14,389
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $14,491,905
0
Admin fee / account holder
$0
median $81,210
50
Annual return
12.93%
median 12.93%
Overall peer rank
37of 100
37th 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 50 by compensation
| Provider | Service type | Compensation |
|---|---|---|
FRANCHISE PARTNERS3+ years Service code 28 | Investment Management | $3,105,396 |
HEWITT ASSOCIATES LLC3+ years Service code 11 · EIN 36-2235791 | Actuarial | $2,765,164 |
OAKTREE CAPITAL MANAGEMENT, L.P.3+ years Service code 28 · EIN 26-0189082 | Investment Management | $2,572,516 |
BNY MELLON3+ years Service code 18 · EIN 13-5160382 | Trustee (bank, trust company, or simi... | $2,553,286 |
NISA INVESTMENT ADVISORS, LLC3+ years Service code 28 · EIN 48-1140940 | Investment Management | $2,472,175 |
PIMCO LLC3+ years Service code 28 · EIN 33-0629048 | Investment Management | $2,399,586 |
BAILLIE GIFFORD OVERSEAS LTD3+ years Service code 28 · EIN 22-3438530 | Investment Management | $2,218,351 |
Service code 28 · EIN 98-0202744 | Investment Management | $1,892,989 |
Service code 28 · EIN 04-2919221 | Investment Management | $1,750,278 |
BERENSON & COMPANY1 year Service code 50 · EIN 13-4100640 | Direct Payment | $1,558,352 |
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 2018-09-18
Plan features & details
Pension benefit codes1A1C1E3H
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
- 1CCash balance or similar planA 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).
- 1ESection 401(h) arrangementPlan contains separate accounts under Code section 401(h) to provide employee health benefits.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
2 tripped
- OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
- 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
$44.9M
$2478 / participant
- Investment mgmt$30M65.8%
- Contract admin$5M10.7%
- Other / not subdivided$11M23.4%
% of EOY assets
0.257%
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