Plan Snapshot
- Plan Sponsor: Mayo Clinic
- Sponsor EIN: 416011702
- Sponsor Address: 200 FIRST STREET SW, ROCHESTER, MN, 55905
- Plan Type: DB
- Total Participants: 74,151
- Total Assets: $11.8B
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- 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 | 74,151 | $11.8B | $266.5M | $0 |
| 2023 | 71,743 | $11.0B | $275.9M | $0 |
| 2022 | 69,154 | $10.3B | $263.4M | $0 |
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 |
|---|---|---|---|---|
| SIT INVESTMENT ASSOC. | Other Service Provider | $5,105,484 | — | $5,105,484 |
| THE NORTHERN TRUST COMPANY | Other Service Provider | $2,922,481 | — | $2,922,481 |
| WALTER SCOTT | Other Service Provider | $2,423,161 | — | $2,423,161 |
| SILCHESTER INTERNATIONAL INVESTOR | Other Service Provider | $2,192,654 | — | $2,192,654 |
| MORANT WRIGHT | Other Service Provider | $1,583,021 | — | $1,583,021 |
| MARATHON - LONDON | Other Service Provider | $986,445 | — | $986,445 |
| CAPE ANN ASSET MANAGEMENT | Other Service Provider | $849,089 | — | $849,089 |
| HARRIS ASSOCIATES LP | Other Service Provider | $715,641 | — | $715,641 |
| LAZARD ASSET MANAGEMENT | Other Service Provider | $669,731 | — | $669,731 |
| WILLIS TOWERS WATSON US LLC | Recordkeeper | $598,685 | — | $598,685 |
| TCW | Other Service Provider | $553,067 | — | $553,067 |
| T.ROWE PRICE ASSOCIATES, INC. | Other Service Provider | $341,247 | — | $341,247 |
| ERNST & YOUNG US LLP | Auditor | $272,660 | — | $272,660 |
| NALANDA CAPITAL | Other Service Provider | $216,491 | — | $216,491 |
| MAYO CLINIC | Other Service Provider | $109,492 | — | $109,492 |
| CANTILLON | Other Service Provider | $100,000 | — | $100,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WILLIS TOWERS WATSON US LLC — Recordkeeper
- ERNST & YOUNG US LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $19,639,349
- Estimated Expense Ratio: 0.166% 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 | $25,752,029 | $15,527,894 | — | $272,660 | — |
| 2023 | $22,964,077 | $12,837,826 | — | $204,400 | — |
| 2022 | $24,181,948 | $13,728,311 | — | — | $3,198,781 |