PlanOptica
Retirement plan

3M EMPLOYEE RETIREMENT INCOME PLAN

3M COMPANYEIN 41-0417775Plan #002PY 2022
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3M CENTER, 223-6N-11 - ST. PAUL, MN 551441000651-733-10053m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filings
#333Retirement-$11.14B assets#013Retirement-$247.0M assets#006Retirement--
Prospect flagsHigh retiree %Wind-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 10/13/2023
How to read this page

Summary metrics

Total assets (EOY)
$14047.9M
-1.9% from 2016
Total participants
58,878
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
-16.59%
-8.72 pp from 2016

Benchmarks

See 204 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort204 peers
Snapshot2022
Participant deferral / active EE
$0
median $38
Employer contribution / active EE
$0
median $6,003
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $1,469,698
Admin fee / account holder
$0
median $19,323
Annual return
-16.59%
median -13.75%
Overall peer rank
33rd 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 COMPA2 years
Service code 28 · EIN 33-0629048
Investment Management
$3,484,242
ROBECO INVESTMENT MANAGEMENT (BOSTO1 year
Service code 28 · EIN 98-0202744
Investment Management
$3,015,815
FRANCHISE PARTNERS8+ years
Service code 28 · EIN 98-0682628
Investment Management
$1,917,333
THE BANK OF NEW YORK MELLON2 years
Service code 18 · EIN 13-5160382
Other fees; Shareholder servicing fee...
$1,900,211
NISA INVESTMENT ADVISORS, LLC8+ years
Service code 28 · EIN 48-1140940
Investment Management
$1,898,272
DODGE & COX8+ years
Service code 28 · EIN 94-1441976
Investment Management
$1,746,510
OAKTREE STRATEGIC CREDIT1 year
Service code 28 · EIN 26-0189082
Investment Management
$1,705,480
BAILLIE GIFFORD OVERSEAS LTD8+ years
Service code 28 · EIN 22-3438530
Investment Management
$1,695,795
3M COMPANY8+ years
Service code 14 · EIN 41-0417775
Plan Administrator
$1,692,027
TEMPO HOLDING COMPANY, LLC (ALIGHT)2 years
Service code 15 · EIN 82-1061233
Recordkeeping
$1,612,801

Enrolled actuary

1 attachment
SB

PETER J. HAUGEN

AON CONSULTING, INC.
Enrollment #2305198
5600 W. 83RD STREET
8200 TOWER, SUITE 1100
MINNEAPOLIS, MN 55437
(952) 886-8000
Signed 2023-09-13

Plan features & details

Pension benefit codes1A1C1E3H3J
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)).
  • 3J
    U.S.-based Puerto Rico dual-qualified plan
    U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

2 tripped
  • 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
$44.7M
$4207 / participant
  • Investment mgmt$29M65.4%
  • Contract admin$2M4.2%
  • Other / not subdivided$14M30.3%
% of EOY assets
0.319%
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