Retirement plan

MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES

Name: MEDTRONIC, INC. - MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES (2024) 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 2024

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

Other plans on this EIN

2 filings

#005Retirement-$12.93B assets #002Retirement-$1.49B assets

Prospect flagsWind-down / frozen

How to read this page

Total assets (EOY)

$2307.2M

-30.2% from 2021

Total participants

11,495

+1.9% from 2021

Average account balance

No prior year

Annual return

10.18%

-45.29 pp from 2021

Benchmarks

See 186 peers

Peer group

Industryany (size+type match)

Plan typeDefined benefit

Participants5,000-9,999

Cohort186 peers

Snapshot2024

Participant deferral / active EE

median $247

Employer contribution / active EE

median $6,320

Participation rate

0.0%

median 0.0%

Avg account balance

Admin fee / account holder

Annual return

10.18%

median 6.71%

Overall peer rank

74of 100

74th 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

SCOTT R. VIPOND

AON CONSULTING, INC.

Enrollment #2306186

MSC #17704

PO BOX 551343

ATLANTA, GA 30355

(952) 886-8000

Signed 2024-12-19

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: PRICEWATERHOUSECOOPERS LLP
Auditor EIN: 134008324
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$106,128-100.0%

Participation rate

0.0%

0.0%0pp

12.2%-12.2pp

0.0%0pp

Annual return

10.18%

8.48%+1.7pp

5.04%+5.1pp

8.48%+1.7pp

Employer contribution / active EE

$9,949-100.0%

$26,454-100.0%

$9,949-100.0%

Participant deferral / active EE

$734-100.0%

$78-100.0%

$734-100.0%

Admin fee / account holder

$16,625-100.0%

MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

SCOTT R. VIPOND

Plan features & details

Opportunity flagsi

Audit opinioni

MEDTRONIC RETIREMENT PLAN FOR CERTAIN PARTICIPANTS AND BENEFICIARIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

SCOTT R. VIPOND

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion