Plan Snapshot
- Plan Sponsor: Mayo Holding Company
- Sponsor EIN: 411578020
- Sponsor Address: 200 FIRST STREET SW, ROCHESTER, MN, 55905
- Plan Type: 401(k)
- Total Participants: 3,587
- Total Assets: $762.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 3,587 | $762.2M | $44,321 | $153,960 |
| 2023 | 3,813 | $743.2M | $24,348 | $140,606 |
| 2022 | 4,149 | $710.7M | $14,707 | $124,287 |
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 | ADVISOR | $498,080 | — | $498,080 |
| WILLIS TOWERS WATSON US LLC | CONSULTANT | $7,360 | — | $7,360 |
| ERNST & YOUNG | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WILLIS TOWERS WATSON US LLC — CONSULTANT
- ERNST & YOUNG — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $505,440
- Estimated Expense Ratio: 0.066% 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 | $227,585 | $498,080 | — | — | — |
| 2023 | $226,429 | $507,478 | — | — | — |
| 2022 | $307,823 | $307,823 | — | — | — |