PlanOptica
Retirement plan

3M EMPLOYEE RETIREMENT INCOME PLAN

3M COMPANYEIN 41-0417775Plan #002PY 2020
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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-$13.34B assets#013Retirement-$310.3M 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 10/11/2021
How to read this page

Summary metrics

Total assets (EOY)
$19143.7M
-1.9% from 2016
Total participants
63,848
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
10.95%
-8.72 pp from 2016

Benchmarks

See 212 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort212 peers
Snapshot2020
Participant deferral / active EE
$0
median $23
Employer contribution / active EE
$0
median $5,975
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
10.95%
median 12.84%
Overall peer rank
18th 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 LLC6+ years
Service code 28 · EIN 33-0629048
Investment Management
$4,602,908
OAKTREE CAPITAL MANAGEMENT, L.P.6+ years
Service code 28 · EIN 26-0189082
Investment Management
$4,446,318
FRANCHISE PARTNERS, LLP1 year
Service code 28
Investment Management
$3,285,268
ALIGHT SOLUTIONS4 years
Service code 15 · EIN 82-1061233
Recordkeeping
$2,447,400
THE ROCK CREEK GROUP5 years
Service code 28 · EIN 04-3648062
Investment Management
$2,417,953
BERENSON & COMPANY LLC3 years
Service code 50 · EIN 13-4100640
Direct Payment
$2,409,984
NISA INVESTMENT ADVISORS, LLC6+ years
Service code 28 · EIN 48-1140940
Investment Management
$2,032,259
WILLIAM BLAIR5 years
Service code 28 · EIN 47-2614791
Investment Management
$1,934,122
BNY MELLON6+ years
Service code 18 · EIN 13-5160382
Trustee (bank, trust company, or simi...
$1,918,975
BAILLIE GIFFORD OVERSEAS LTD6+ years
Service code 28 · EIN 22-3438530
Investment Management
$1,886,194

Enrolled actuary

1 attachment
SB

PETER J. HAUGEN

AON CONSULTING, INC.
Enrollment #2005198
5600 W. 83RD STREET
8200 TOWER, SUITE 1100
MINNEAPOLIS, MN 55437
(952) 886-8000
Signed 2021-09-24

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
$54.8M
$4008 / participant
  • Investment mgmt$34M61.7%
  • Contract admin$4M7.4%
  • Other / not subdivided$17M30.9%
% of EOY assets
0.287%
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