Minnesota Retirement Plan Benchmarks

Statewide benchmarks across every Form 5500 filer headquartered in the state. Sourced from 17,099 Form 5500 filings for plan year 2024.

Headline numbers (2024)

Plans: 17,099
Total assets: $481.0B
Total participants: 294,424
Median expense ratio: 0.30%
Median employer contribution per active participant: $2,400
Median account balance: $69,731
3-year asset growth (2022–2024): +31.8%

Expense ratio distribution

25th percentile: 0.10%
Median: 0.30%
75th percentile: 0.72%

Where the fees go (average mix)

Admin / Recordkeeping: 26.5%
Investment Management: 76.3%
Audit: 1.6%
Legal: 0.2%

Employer contribution generosity

Median per active participant: $2,400
Plans with $0 employer match: 2,879 (16.8%)

3-year trend

Year	Plans	Assets	Participants	Median fee	Median employer $
2022	15,126	$364.8B	249,906	0.35%	$2,348
2023	16,526	$444.0B	287,993	0.28%	$2,412
2024	17,099	$481.0B	294,424	0.30%	$2,400

Methodology

All metrics are calculated from U.S. Department of Labor Form 5500 annual filings. The slice "Minnesota" includes 17,099 plans for plan year 2024. Medians use percentile_cont over reported values; zero/null values are excluded from rate-style metrics.

Citation: PlanProvider.Pro, Form 5500 Benchmarks 2024. Free for editorial use with attribution + link to https://planprovider.pro/benchmarks/state/minnesota.