PlanOptica
Retirement plan

MAYO 403(B) PLAN

MAYO CLINICEIN 41-6011702Plan #002PY 2021
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200 FIRST STREET SW - ROCHESTER, MN 55905507-284-0126mayoclinic.orgLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
1 filing
#001Retirement-$12.40B assets
Prospect flagsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
WILLIAM BROWN
Signed 07/26/2022
(507) 284-0126
How to read this page

Summary metrics

Total assets (EOY)
$10713.4M
-14.0% from 2016
Total participants
102,301
-4.3% from 2016
Average account balance
$117,379
-8.1% from 2016
Annual return
16.22%
-0.29 pp from 2016

Benchmarks

See 230 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort230 peers
Snapshot2021
Participant deferral / active EE
$6,325
median $4,224
Employer contribution / active EE
$1,569
median $1,758
Participation rate
86.4%
median 86.9%
Avg account balance
$117,379
median $62,426
Admin fee / account holder
$83
median $50
Annual return
16.22%
median 14.85%
Overall peer rank
57th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$12.80B
Average account balance
Total assets / participants with a balance (line 6g)
$122K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
104,493
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
88.3%
Contributions (total)
Employer and participant dollars contributed each year
$783.38M
Contributions per participant
Average employer and participant contribution per enrolled participant
$9K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.26%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$77
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 5 by compensation
ProviderService typeCompensation
FINANCIAL ENGINES5 years
Service code 27 · EIN 77-0473565
Advisory (Plan)
$7,997,936
TOWERS WATSON INVESTMENT SERVICES1 year
Service code 37 · EIN 52-1868818
Loan Processing
$7,360
FIDELITY INVESTMENTS1 year
Service code 60
Sub-TA Fees
$0
FIDELITY INVESTMENTS INSTITUTIONAL1 year
Service code 60
Sub-TA Fees
$0
FIDELITY INV INS OP COM, INC4 years
Service code 15 · EIN 04-2647786
Recordkeeping
-$358,874

Top hat statement on fileNQDC

Filed April 30, 2013 (most recent of 4 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes2L2M2R3H
Plan features
  • 2L
    Code section 403(b)(1) arrangement
    Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
  • 2M
    Code section 403(b)(7) accounts
    Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
  • 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)).

Opportunity flags

1 tripped
  • ComplianceCorrective distributions

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

Expense breakdown

Schedule H Part II
Admin total
$7.6M
$94 / participant
  • Investment mgmt$8M100.0%
% of EOY assets
0.071%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
ERNST & YOUNG
Auditor EIN
346565596
Audit fees
(not subdivided)
Opinion code
Unqualified