Minnesota Retirement Plan Benchmarks

Statewide benchmarks across every Form 5500 filer headquartered in the state. Sourced from 18,062 Form 5500 filings for plan year 2024.

Headline numbers (2024)

Plans: 18,062
Total assets: $625.5B
Total participants: 7,743,422
Median expense ratio: 0.19%
Median employer contribution per active participant: $2,459
Median account balance: $74,381
3-year asset growth (2022–2024): +32.3%

Expense ratio distribution

25th percentile: 0.07%
Median: 0.19%
75th percentile: 0.38%

Where the fees go (average mix)

Admin / Recordkeeping: 39.6%
Investment Management: 48.0%
Audit: 5.0%
Legal: 0.9%

Employer contribution generosity

Median per active participant: $2,459
Plans with $0 employer match: —

3-year trend

Year	Plans	Assets	Participants	Median fee	Median employer $
2022	17,890	$472.7B	6,066,148	0.29%	—
2023	18,133	$529.0B	6,142,235	0.20%	—
2024	18,062	$625.5B	7,743,422	0.19%	$2,459

Methodology

All metrics are calculated from U.S. Department of Labor Form 5500 annual filings. The slice "Minnesota" is served from the accepted-generation projection 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.