PlanOptica
Retirement plan

3M SAVINGS PLAN

3M COMPANYEIN 41-0417775Plan #013PY 2024
Sign in to saveView 5500 PDF
3M CENTER, 223-6N-02 - ST. PAUL, MN 551441000651-733-10053m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filings
#333Retirement-$10.60B assets#002Retirement-$8.88B assets#006Retirement--
Prospect flagsLow returnsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(651) 733-1005
Plan administrator signer
DEIDRE REHFELD
Signed 10/15/2025
How to read this page

Summary metrics

Total assets (EOY)
$285.1M
-5.9% from 2016
Total participants
2,330
+2.6% from 2016
Average account balance
$123,966
-8.4% from 2016
Annual return
11.81%
-12.52 pp from 2016

Benchmarks

See 839 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants1,000-4,999
Cohort839 peers
Snapshot2024
Participant deferral / active EE
$7,743
median $5,861
Employer contribution / active EE
$3,087
median $2,943
Participation rate
98.1%
median 94.4%
Avg account balance
$123,966
median $90,943
Admin fee / account holder
$55
median $99
Annual return
11.81%
median 14.71%
Overall peer rank
60th 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
ProviderService typeCompensation
BLACKROCK INSTITUTIONAL TRUST CO.1 year
Service code 21 · EIN 94-3112180
Bank Trustee
$66,227
EMPOWER ANNUITY INSURANCE COMPANY O1 year
Service code 15 · EIN 84-0467907
Recordkeeping
$25,890
3M COMPANY10+ years
Service code 14 · EIN 41-0417775
Plan Administrator
$7,003
NEWPORT TRUST COMPANY1 year
Service code 28 · EIN 27-4411131
Investment Management
$6,049
CLIFTONLARSONALLEN1 year
Service code 10 · EIN 41-0746749
Accounting
$4,124
CHARLES SCHWAB & CO., INC.3 years
Service code 59
Shareholder Servicing
$0
WELLINGTON TRUST COMPANY, NA1 year
Service code 52 · EIN 04-2755549
Indirect Investment Fees
$0

Plan features & details

Pension benefit codes2E2H2J2K2S2T3H3I2R
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2H
    Partial participant-directed account plan
    Participants 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.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
  • 3I
    Employer securities investment required
    Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • ComplianceCorrective distributions

    Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II
Admin total
$126K
$82 / participant
  • Recordkeeping$26K20.5%
  • Legal$1K1.0%
  • Other trustee fees$82K65.1%
  • Contract admin$7K5.5%
  • Other / not subdivided$10K7.9%
% of EOY assets
0.044%
all-in expense ratio
Categories reported
4 / 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
$4,124
Opinion code
Unqualified