Retirement plan
3M SAVINGS PLAN
3M COMPANYEIN 41-0417775Plan #013PY 2016
3M CENTER BLDG 224-2W-15 - ST PAUL, MN 551441000651-737-46113m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filingsProspect flagsNo flags tripped
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JULIE OTTO
Signed 10/06/2017
Summary metrics
Total assets (EOY)
$287.1M
-5.9% from 2016
Total participants
2,886
+2.6% from 2016
Average account balance
$105,662
-8.4% from 2016
Annual return
9.58%
-12.52 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants1,000-4,999
Cohort780 peers
Snapshot2016
68
Participant deferral / active EE
$5,243
median $3,767
43
Employer contribution / active EE
$1,739
median $1,953
47
Participation rate
92.2%
median 93.0%
77
Avg account balance
$105,662
median $65,074
17
Admin fee / account holder
$117
median $46
68
Annual return
9.58%
median 8.11%
Overall peer rank
53of 100
53rd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$285.12M
Average account balance
Total assets / participants with a balance (line 6g)
$124K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
2,300
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.1%
Contributions (total)
Employer and participant dollars contributed each year
$16.67M
Contributions per participant
Average employer and participant contribution per enrolled participant
$11K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+11.81%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$55
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 6 by compensation
| Provider | Service type | Compensation |
|---|---|---|
HEWITT ASSOCIATES LLC2+ years Service code 15 · EIN 36-2235791 | Recordkeeping | $109,235 |
BLACKROCK INSTITUTIONAL TRUST CO2+ years Service code 28 · EIN 94-3112180 | Investment Management | $84,509 |
STATE STREET GLOBAL ADVISORS2+ years Service code 18 · EIN 04-1867445 | Custodial (other than securities); In... | $70,322 |
JENNISON ASSOCIATES LLC2+ years Service code 28 · EIN 22-2540245 | Investment Management | $23,124 |
PACIFIC INVESTMENT MANAGEMENT CO2+ years Service code 28 · EIN 33-0629048 | Investment Management | $12,863 |
Service code 28 · EIN 41-1813702 | Investment Management | $10,622 |
Plan features & details
Pension benefit codes2E2H2J2K2S2T3H3I
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2HPartial participant-directed account planParticipants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
- 3IEmployer securities investment requiredPlan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.
Opportunity flags
0 tripped
No flags tripped for this filing year. This plan looks clean.
Expense breakdown
Schedule H Part II
Admin total
$319K
$147 / participant
- Investment mgmt$163K51.0%
- Contract admin$138K43.2%
- Other / not subdivided$18K5.8%
% of EOY assets
0.111%
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