Retirement plan
3M SAVINGS PLAN
3M COMPANYEIN 41-0417775Plan #013PY 2018
3M CENTER BLDG 224-2W-15 - ST PAUL, MN 551441000651-737-46113m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filingsProspect flagsLow returns
Filing contacts
From the Form 5500, federal recordPlan administrator signer
MICHAEL ANDERSON
Signed 10/15/2019
Summary metrics
Total assets (EOY)
$280.2M
-5.9% from 2016
Total participants
2,649
+2.6% from 2016
Average account balance
$112,126
-8.4% from 2016
Annual return
-8.39%
-12.52 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants1,000-4,999
Cohort831 peers
Snapshot2018
71
Participant deferral / active EE
$6,187
median $4,282
44
Employer contribution / active EE
$1,959
median $2,159
44
Participation rate
91.9%
median 93.4%
80
Avg account balance
$112,126
median $65,680
15
Admin fee / account holder
$147
median $67
3
Annual return
-8.39%
median -4.46%
Overall peer rank
43of 100
43rd 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 7 by compensation
| Provider | Service type | Compensation |
|---|---|---|
BLACKROCK INSTITUTIONAL TRUST CO4+ years Service code 21 · EIN 94-3112180 | Bank Trustee | $115,215 |
ALIGHT SOLUTIONS LLC1 year Service code 15 · EIN 82-1061233 | Recordkeeping | $94,501 |
STATE STREET GLOBAL ADVISORS4+ years Service code 18 · EIN 81-4017137 | Custodial (other than securities); In... | $60,629 |
JENNISON ASSOCIATES LLC4+ years Service code 28 · EIN 22-2540245 | Investment Management | $33,908 |
DOUBLELINE CAPITAL LP1 year Service code 28 · EIN 30-0596331 | Investment Management | $24,464 |
PACIFIC INVESTMENT MANAGEMENT CO4+ years Service code 28 · EIN 33-0629048 | Investment Management | $21,953 |
3M COMPANY4+ years Service code 14 · EIN 41-0417775 | Plan Administrator | $9,077 |
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
1 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$367K
$197 / participant
- Investment mgmt$216K59.0%
- Contract admin$125K34.1%
- Other / not subdivided$25K6.9%
% of EOY assets
0.131%
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