PlanOptica
Retirement plan

3M EMPLOYEE RETIREMENT INCOME PLAN

3M COMPANYEIN 41-0417775Plan #002PY 2019
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3M CENTER 224-2W-15 - ST. PAUL, MN 551441000651-733-10053m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filings
#333Retirement-$12.07B assets#013Retirement-$302.5M assets#006Retirement--
Prospect flagsHigh retiree %Low participationWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(651) 733-1005
Plan administrator signer
DEIDRE REHFELD
Signed 10/15/2020
How to read this page

Summary metrics

Total assets (EOY)
$18194.1M
-1.9% from 2016
Total participants
66,000
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
18.90%
-8.72 pp from 2016

Benchmarks

See 222 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort222 peers
Snapshot2019
Participant deferral / active EE
$0
median $57
Employer contribution / active EE
$0
median $5,966
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $894,319,009
Admin fee / account holder
$0
median $2,968,729
Annual return
18.90%
median 16.59%
Overall peer rank
34th 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 44 by compensation
ProviderService typeCompensation
PIMCO LLC5+ years
Service code 28 · EIN 33-0629048
Investment Management
$3,901,973
THE ROCK CREEK GROUP4 years
Service code 28 · EIN 04-3648062
Investment Management
$3,304,399
FRANCHISE PARTNERS5+ years
Service code 28
Investment Management
$3,138,844
ALIGHT SOLUTIONS3 years
Service code 11 · EIN 82-1061233
Actuarial
$2,832,106
OAKTREE CAPITAL MANAGEMENT, L.P.5+ years
Service code 28 · EIN 26-0189082
Investment Management
$2,782,068
BNY MELLON5+ years
Service code 18 · EIN 13-5160382
Other fees; Direct payment from the p...
$2,575,367
BERENSON & COMPANY LLC2 years
Service code 50 · EIN 13-4100640
Direct Payment
$2,384,095
BOSTON PARTNERS GLOBAL INVESTORS4 years
Service code 28 · EIN 98-0202744
Investment Management
$1,741,651
NISA INVESTMENT ADVISORS, LLC5+ years
Service code 28 · EIN 48-1140940
Investment Management
$1,724,580
WILLIAM BLAIR4 years
Service code 28 · EIN 47-2614791
Investment Management
$1,689,165

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 2020-09-16

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.

  • InformationalHigh retiree %

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

  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$50.0M
$3379 / participant
  • Investment mgmt$34M68.5%
  • Contract admin$5M9.3%
  • Other / not subdivided$11M22.2%
% of EOY assets
0.275%
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