Plan Snapshot
- Plan Sponsor: 3m Company
- Sponsor EIN: 410417775
- Sponsor Address: 3M CENTER, ST. PAUL, MN, 551441000
- Plan Type: 401(k)
- Total Participants: 21,780
- Total Assets: $10.6B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 21,780 | $10.6B | $167.3M | $276.5M |
| 2023 | 32,964 | $12.0B | $220.0M | $352.3M |
| 2022 | 36,049 | $11.1B | $234.9M | $385.0M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| BLACKROCK INSTITUTIONAL TRUST CO. | Other Service Provider | $2,438,116 | — | $2,438,116 |
| EMPOWER ANNUITY INSURANCE COMPANY O | Other Service Provider | $509,815 | — | $509,815 |
| NEPC, LLC | Recordkeeper | $295,460 | — | $295,460 |
| 3M COMPANY | Other Service Provider | $257,814 | $880 | $258,694 |
| NEWPORT TRUST COMPANY | Other Service Provider | $222,701 | — | $222,701 |
| CLIFTONLARSONALLEN | Auditor | $151,827 | — | $151,827 |
| PLANTE MORAN | Auditor | $138,420 | — | $138,420 |
| AON CONSULTING INC. | Recordkeeper | $73,555 | — | $73,555 |
| STATE STREET BANK AND TRUST | Other Service Provider | $67,460 | — | $67,460 |
| SEYFARTH SHAW LLP | Investment Advisor | $46,293 | — | $46,293 |
| WELLINGTON TRUST CO, NA | Other Service Provider | — | $40,067 | $40,067 |
| HR ADVANTAGE INC | Other Service Provider | $19,967 | — | $19,967 |
| BACKSTOP SOLUTIONS GROUP, LLC | Other Service Provider | $10,720 | — | $10,720 |
| DELOITTE CONSULTING LLP | Other Service Provider | $5,389 | — | $5,389 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NEPC, LLC — Recordkeeper
- CLIFTONLARSONALLEN — Auditor
- PLANTE MORAN — Auditor
- AON CONSULTING INC. — Recordkeeper
- SEYFARTH SHAW LLP — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $4,278,484
- Estimated Expense Ratio: 0.040% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $4,244,496 | — | $257,814 | $151,827 | — |
| 2023 | $6,208,603 | $3,572,746 | — | $154,673 | — |
| 2022 | $7,903,933 | $4,801,006 | $1,887,229 | — | $931,279 |