PlanOptica
Retirement plan

3M EMPLOYEE RETIREMENT INCOME PLAN

3M COMPANYEIN 41-0417775Plan #002PY 2021
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3M CENTER BLDG. 224-2W-15 - ST. PAUL, MN 551441000651-733-10053m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filings
#333Retirement-$14.27B assets#013Retirement-$325.4M assets#006Retirement--
Prospect flagsHigh retiree %Low returnsLow employer contributionLow participant contributionWind-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 10/14/2022
How to read this page

Summary metrics

Total assets (EOY)
$18556.2M
-1.9% from 2016
Total participants
61,494
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
3.48%
-8.72 pp from 2016

Benchmarks

See 206 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort206 peers
Snapshot2021
Participant deferral / active EE
$0
median $81
Employer contribution / active EE
$0
median $6,074
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
3.48%
median 11.59%
Overall peer rank
3rd 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
ProviderService typeCompensation
PACIFIC INVESTMENT MANAGEMENT COMPA1 year
Service code 28 · EIN 33-0629048
Investment Management
$4,323,983
INDEPENDENT FRANCHISE PARTNERS, LLP1 year
Service code 28 · EIN 98-0682628
Investment Management
$3,909,628
THE ROCK CREEK GROUP, LP1 year
Service code 28 · EIN 04-3648062
Investment Management
$3,526,281
OAKTREE CAPITAL MANAGEMENT, L.P.7+ years
Service code 28 · EIN 26-0189082
Investment Management
$3,513,002
TEMPO HOLDING COMPANY, LLC (ALIGHT)1 year
Service code 15 · EIN 82-1061233
Recordkeeping
$3,052,169
BERENSON & COMPANY5 years
Service code 16 · EIN 13-4100640
Consulting
$2,403,232
BOSTON PARTNERS (ROBECO INV. MGMT.)1 year
Service code 28 · EIN 98-0202744
Investment Management
$2,335,923
NISA INVESTMENT ADVISORS, LLC7+ years
Service code 28 · EIN 48-1140940
Investment Management
$2,155,584
THE BANK OF NEW YORK MELLON1 year
Service code 18 · EIN 13-5160382
Other fees; Direct payment from the p...
$2,123,455
WILLIAM BLAIR INVESTMENT MANAGEMENT1 year
Service code 28 · EIN 47-2614791
Investment Management
$2,098,171

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 2022-09-23

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

5 tripped
  • OpportunityLow participant contribution

    Participant contribution per participant is in the bottom quintile of the peer cohort.

  • OpportunityLow employer contribution

    Employer contribution per participant is in the bottom quintile of the peer cohort.

  • 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.

  • 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
$63.6M
$5227 / participant
  • Investment mgmt$39M61.4%
  • Contract admin$4M7.0%
  • Other / not subdivided$20M31.6%
% of EOY assets
0.342%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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