# Mayo Clinic 403(b) Plan
Source: https://planprovider.pro/companies/mayo-clinic-403b-plan

> Mayo Clinic's 403(b) plan: 87,000 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Mayo Clinic

- **Sponsor EIN:** 416011702

- **Sponsor Address:** 200 FIRST STREET SW, ROCHESTER, MN, 55905

- **Plan Type:** 403(b)

- **Total Participants:** 87,000

- **Total Assets:** $12.8B

## 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.|

| 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|NONE|$10,044,953|—|$10,044,953|

| FIDELITY INV INS OP COM, INC|NONE|-$1,979,495|$3,449,407|$1,469,912|

| TOWERS WATSON INVESTMENT SERVICES|NONE|$7,360|—|$7,360|

| ERNST & YOUNG|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [FIDELITY INV INS OP COM, INC](https://planprovider.pro/provider/fidelity-investments) — NONE

- [ERNST & YOUNG](https://planprovider.pro/provider/ernst-and-young-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $11,522,225

- **Estimated Expense Ratio:** 0.090% 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|$8,057,827|$8,057,827|—|—|—|

| 2023|$6,313,190|$6,313,190|—|—|—|

| 2022|$6,954,420|$6,954,420|—|—|—|

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