Retirement plan

MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES

Name: MEDTRONIC, INC. - MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES (2021) Form 5500
Creator: MEDTRONIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES, MEDTRONIC, INC.

MEDTRONIC, INC.EIN 41-0793183Plan #007PY 2021

710 MEDTRONIC PARKWAY - MINNEAPOLIS, MN 554323576763-514-4000medtronic.comLinkedIn10001+ employeesmedical devices

Other plans on this EIN

2 filings

#005Retirement-$13.02B assets #002Retirement-$1.82B assets

Prospect flagsWind-down / frozen

How to read this page

Total assets (EOY)

$2268.1M

-30.2% from 2021

Total participants

12,029

+1.9% from 2021

Average account balance

No prior year

Annual return

45.29%

-45.29 pp from 2021

Benchmarks

See 183 peers

Peer group

Industryany (size+type match)

Plan typeDefined benefit

Participants5,000-9,999

Cohort183 peers

Snapshot2021

Participant deferral / active EE

median $33

Employer contribution / active EE

median $6,339

Participation rate

0.0%

median 0.0%

Avg account balance

Admin fee / account holder

Annual return

45.29%

median 12.34%

Overall peer rank

97of 100

97th percentileavg across 6 metrics

Analytics

2020 - 2025

Total assets (EOY)

Plan-year ending balance

$2.44B

Average account balance

Total assets / participants with a balance (line 6g)

$217K

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

4,623

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Contributions (total)

Employer and participant dollars contributed each year

$350.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$32K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+8.21%

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Enrolled actuary

1 attachment

PETER J. HAUGEN

AON CONSULTING, INC.

Enrollment #2005198

5600 W 83RD STREET

8200 TOWER, SUITE 1100

MINNEAPOLIS, MN 55437

(952) 886-8000

Signed 2022-02-01

Plan features & details

Pension benefit codes1A1C1E3H

Plan features

1A
Benefits are primarily pay related
Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
1E
Section 401(h) arrangement
Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
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

InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$220,551-100.0%

Participation rate

0.0%

0.0%0pp

8.7%-8.7pp

0.0%0pp

Annual return

45.29%

19.39%+25.9pp

7.32%+38.0pp

19.39%+25.9pp

Employer contribution / active EE

$8,446-100.0%

$23,426-100.0%

$8,446-100.0%

Participant deferral / active EE

$353-100.0%

$107-100.0%

$353-100.0%

Admin fee / account holder

$9,522-100.0%

MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

PETER J. HAUGEN

Plan features & details

Opportunity flagsi

Audit opinioni

MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

PETER J. HAUGEN

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion