Plan Snapshot
- Plan Sponsor: Mayo Clinic
- Sponsor EIN: 416011702
- Sponsor Address: 200 FIRST STREET SW, ROCHESTER, MN, 55905
- Plan Type: 403(b)
- Plan Number: 002
- Total Participants: 112,693
- Total Assets: $15.1B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- 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. |
|---|---|---|---|---|
| 2025 | 112,693 | $15.1B | $0 | $0 |
| 2024 | 87,000 | $12.8B | $149.0M | $634.3M |
| 2023 | 85,933 | $11.2B | $141.7M | $591.8M |
| 2022 | 84,098 | $9.5B | $130.4M | $541.0M |
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 |
|---|---|---|---|---|
| FINANCIAL ENGINES | Investment Advisor | $11,505,981 | — | $11,505,981 |
| FIDELITY INV INS OP COM, INC | Recordkeeper | -$2,415,489 | $4,009,785 | $1,594,296 |
| TOWERS WATSON INVESTMENT SERVICES | Other Service Provider | $7,360 | — | $7,360 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $13,107,637
- Estimated Expense Ratio: 0.087% 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 |
|---|---|---|---|---|---|
| 2025 | $815,074,916 | $9,074,450 | — | — | — |
| 2024 | $8,057,827 | $8,057,827 | — | — | — |
| 2023 | $6,313,190 | $6,313,190 | — | — | — |
| 2022 | $6,954,420 | $6,954,420 | — | — | — |