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Retirement plan

3M VOLUNTARY INVESTMENT PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN

3M COMPANYEIN 41-0417775Plan #333PY 2017
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3M CENTER 224-2W-15 - ST PAUL, MN 551441000651-737-46113m.comLinkedIn10001+ employeesmechanical or industrial engineering
Other plans on this EIN
3 filings
#002Retirement-$17.49B assets#013Retirement-$319.0M assets#006Retirement-$19K assets
Prospect flagsNo flags tripped

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(651) 737-4611
Plan administrator signer
JULIE OTTO
Signed 10/11/2018
How to read this page

Summary metrics

Total assets (EOY)
$12368.1M
-6.5% from 2016
Total participants
53,430
-0.4% from 2016
Average account balance
$243,189
-6.6% from 2016
Annual return
19.90%
-13.04 pp from 2016

Benchmarks

See 88 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort88 peers
Snapshot2017
Participant deferral / active EE
$8,088
median $6,623
Employer contribution / active EE
$4,136
median $3,607
Participation rate
93.1%
median 95.3%
Avg account balance
$243,189
median $139,863
Admin fee / account holder
$185
median $44
Annual return
19.90%
median 17.81%
Overall peer rank
56th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$10.60B
Average account balance
Total assets / participants with a balance (line 6g)
$263K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
40,357
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.0%
Contributions (total)
Employer and participant dollars contributed each year
$443.81M
Contributions per participant
Average employer and participant contribution per enrolled participant
$20K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-5.29%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$105
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 11 by compensation
ProviderService typeCompensation
HEWITT ASSOCIATES LLC3+ years
Service code 15 · EIN 36-2235791
Recordkeeping
$3,043,973
STATE STREET GLOBAL ADVISORS3+ years
Service code 18 · EIN 04-1867445
Direct payment from the plan; Custodi...
$2,031,739
BLACKROCK INSTITUTIONAL TRUST CO3+ years
Service code 28 · EIN 94-3112180
Investment Management
$1,823,222
PACIFIC INVESTMENT MANAGEMENT CO3+ years
Service code 28 · EIN 33-0629048
Investment Management
$834,009
JENNISON ASSOCIATES LLC3+ years
Service code 28 · EIN 22-2540245
Investment Management
$619,039
ERNST & YOUNG1 year
Service code 28 · EIN 34-6565596
Investment Management
$461,369
GALLIARD CAPITAL MANAGEMENT, INC3+ years
Service code 28 · EIN 41-1813702
Investment Management
$278,284
3M COMPANY3+ years
Service code 14 · EIN 41-0417775
Plan Administrator
$164,812
CLIFTONLARSONALLEN LLP3+ years
Service code 10 · EIN 41-0746749
Accounting
$110,146
DOUBLELINE CAPITAL LP1 year
Service code 28 · EIN 30-0596331
Investment Management
$31,233

Plan features & details

Pension benefit codes2E2H2J2K2P2R3H3I
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.
  • 2P
    Leveraged ESOP
    Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

0 tripped
No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II
Admin total
$9.4M
$252 / participant
  • Investment mgmt$4M47.7%
  • Contract admin$4M40.5%
  • Other / not subdivided$1M11.8%
% of EOY assets
0.076%
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