Back to top
FORM 5500 DATA

3M Employee Retirement Income Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1931
  • Net Assets as of 12/31/2019 $16,886,166,000
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants14,785
  • Retired or separated participants receiving benefits34,894
  • Other retired or separated participants entitled to future benefits9,413
  • Subtotal59,092
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits6,908
  • Total66,000
  • Total number of participants as of 01/01/201967,577
  • Number of participants with account balances0
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address3M Center 224-2W-15
  • CitySt. Paul
  • StateMN
  • Zip55144-1000
  • Telephone(651) 733-1005
  • EIN41-0417775
  • Industry Code339900
  • Named AdministratorDeidre Rehfeld

Benefits Provided Under the Plan

Code Benefit Description
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $25,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? Yes $6,021,248,000
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Advent Gpe VII
  • Advent Gpe VIII
  • Alphadyne
  • Anchorage Capital
  • Angelo Gordon Dl II
  • Angelo Gordon Dl III
  • Apollo VII
  • Archview Credit
  • Arsenal Capital Partners IV
  • Bertram Growth Capital Iii-A
  • Blackstone Century Avenue
  • Blackstone Long/Short
  • Blue Water Energy Fd I-A
  • Blue Water Energy Fund II
  • Brentwood V
  • Bridgewater Optimal Portfolio
  • Bridgewater Pure Alpha
  • Cataylst II
  • Crestview Partners III
  • Cvc Capital VI
  • Dbl Partners III
  • Emso Saguaro
  • Falcon Strategic Partners IV
  • Falcon Strategic Partners V
  • Frazier Life Sciences VIII
  • Gso Capital Opportunities Fund III
  • Harbourvest Int'L V
  • Harbourvest VIII Venture
  • Innovation Lane
  • Invesco Ppip
  • Kkr European II
  • Matlin Patterson Global Opp III
  • Mbk Partners Fund Iii, L.P.
  • Mbk Partners IV
  • Mill Road Capital II
  • Nb Private Debt Fund III
  • Neuberger Berman Private Debt
  • Newbridge Asia IV
  • Newbury Equity Partners
  • Newbury Equity Partners II
  • Nxt Capital Fund II
  • Nxt Capital Fund III
  • Nxt Capital Fund V
  • Oaktree Opp Fund Viib
  • Oaktree Opportunities Fund Viii, L.
  • Oaktree Princ Opp Fund V
  • Orion Energy Credit Opportunities F
  • Orion Energy Credit Opportunities F
  • Orion Energy Partners, L.P.
  • Pacific Equity Partners V
  • Panda Power Fund II
  • Panda Power Gen Fund I-B
  • Partners Group Secondary
  • Presidio Partners 2007
  • Roundtable Healthcare III
  • Roundtable Healthcare IV
  • Roundtable Healthcare Partners V, L
  • Siguler Guff Bric
  • Siguler Guff Bric II
  • Starwood Opp Fund Xi
  • Strategic Partners Fund Iv, L.P.
  • Towerbrook IV
  • Tpg Partners VI
  • UBS
  • Vantagepoint Venture Partners 2006
  • Warburg Pincus Ix
  • Warburg Pincus X
  • White Deer Energy II
  • Yukon II

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Pimco LLC Investment management, Investment management fees paid directly by plan, Other fees NONE $3,901,973 $0 $3,901,973
The Rock Creek Group Investment management, Investment management fees paid directly by plan NONE $3,304,399 $0 $3,304,399
Franchise Partners Investment management, Investment management fees paid directly by plan NONE $3,138,844 $0 $3,138,844
Alight Solutions Actuarial, Recordkeeping and information management (computing, tabulating, data processing, etc.), Other services, Direct payment from the plan NONE $2,832,106 $0 $2,832,106
Oaktree Capital Management, L.P. Investment management, Investment management fees paid directly by plan NONE $2,782,068 $0 $2,782,068
Bny Mellon Custodial (other than securities), Trustee (bank, trust company, or similar financial institution), Direct payment from the plan, Other fees NONE $2,575,367 $0 $2,575,367
Berenson & Company LLC Other fees, Direct payment from the plan NONE $2,384,095 $0 $2,384,095
Boston Partners Global Investors Investment management, Investment management fees paid directly by plan NONE $1,741,651 $0 $1,741,651
Nisa Investment Advisors, LLC Investment management, Investment management fees paid directly by plan, Other fees NONE $1,724,580 $0 $1,724,580
William Blair Investment management, Other fees, Investment management fees paid directly by plan NONE $1,689,165 $0 $1,689,165
Baillie Gifford Overseas Ltd Investment management, Investment management fees paid directly by plan NONE $1,621,016 $0 $1,621,016
J.P. Morgan Investment Management Investment management, Investment advisory (plan), Investment management fees paid directly by plan NONE $1,574,948 $0 $1,574,948
Gso Capital Opportunities Investment management, Investment management fees paid directly by plan NONE $1,552,446 $0 $1,552,446
3M Company Plan Administrator, Direct payment from the plan Plan Sponsor $1,502,897 $24,951 $1,527,848
Doubleline Capital Lp Investment management, Investment management fees paid directly by plan NONE $1,441,824 $0 $1,441,824
Acadian Asset Management, LLC Investment management, Investment management fees paid directly by plan, Other fees NONE $1,333,818 $0 $1,333,818
Wellington Management Company LLP Investment management, Investment management fees paid directly by plan, Other fees NONE $1,319,131 $0 $1,319,131
Dodge & Cox Investment management, Investment management fees paid directly by plan NONE $1,267,898 $0 $1,267,898
Pgim, Inc. Investment management, Investment management fees paid directly by plan, Other fees NONE $928,536 $0 $928,536
Loomis Sayles & Company Investment management, Investment management fees paid directly by plan, Other fees NONE $652,165 $0 $652,165
Western Asset Management Company Investment management, Investment management fees paid directly by plan, Other fees NONE $615,304 $0 $615,304
T. Rowe Price Associates, Inc. Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions NONE $469,829 $0 $469,829
Legal & General Investment Manageme Investment management fees paid directly by plan, Investment management NONE $450,864 $0 $450,864
Brentwood Associates Private Equity Investment management, Other fees, Investment management fees paid directly by plan NONE $403,942 $0 $403,942
Ernst & Young Us LLP Accounting (including auditing), Direct payment from the plan NONE $304,021 $0 $304,021
Rhone Partners IV Lp Investment management, Other fees, Investment management fees paid directly by plan NONE $135,520 $0 $135,520
The Burgiss Group LLC Other fees, Direct payment from the plan NONE $110,383 $0 $110,383
Energy Capital Partners Investment management, Investment management fees paid directly by plan NONE $101,764 $0 $101,764
Seyfarth Shaw LLP Accounting (including auditing), Direct payment from the plan NONE $78,800 $0 $78,800
Parametric Portfolio Associates LLC Investment management, Investment management fees paid directly by plan NONE $75,000 $0 $75,000
Mercer Investments Consulting, LLC Other fees, Direct payment from the plan, Investment advisory (plan) NONE $65,000 $0 $65,000
Factset Research Systems Inc. Other fees, Direct payment from the plan NONE $62,641 $0 $62,641
Deliotte Consulting Accounting (including auditing), Direct payment from the plan NONE $49,818 $0 $49,818
Bloomberg Finance Lp Investment management, Investment management fees paid directly by plan NONE $46,376 $0 $46,376
Starwood Distressed Opp Ix Investment management, Investment management fees paid directly by plan NONE $36,688 $0 $36,688
Twin Eagle Resource Other fees, Direct payment from the plan NONE $30,000 $0 $30,000
Cliftonlarsonallen LLP Accounting (including auditing), Direct payment from the plan NONE $29,775 $0 $29,775
The Carlyle Group Investment management, Investment management fees paid directly by plan, Other fees NONE $28,871 $0 $28,871
Fti Consulting Inc. Consulting (general), Direct payment from the plan NONE $24,854 $0 $24,854
Milliman Inc Other fees, Direct payment from the plan NONE $20,366 $0 $20,366
Starwood Opportunity Fund X U.S Lp Investment management, Investment management fees paid directly by plan NONE $18,454 $0 $18,454
Strategic Economic Decisions, Inc. Other fees, Direct payment from the plan NONE $10,000 $0 $10,000
BDO Other services, Direct payment from the plan NONE $7,200 $0 $7,200
Bank of Texas Other fees, Direct payment from the plan NONE $5,000 $0 $5,000
Total $42,449,397 $24,951 $42,474,348

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
3M Company Pimco LLC Plan Administrator, Direct payment from the plan Educational Conference Expenses $3,335
3M Company Milken Institute Plan Administrator, Direct payment from the plan Educational Conference Expenses $14,510
3M Company Jp Morgan Plan Administrator, Direct payment from the plan Educational Conference Expenses $1,900
3M Company Prudential Plan Administrator, Direct payment from the plan Educational Conference Expenses $1,052
3M Company Angelo Gorgon Plan Administrator, Direct payment from the plan Educational Conference Expenses $1,630
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Collective Us Gov'T Stif 12 The Bank of New York Mellon DFE: Common/Collective Trust $502,152,000
Asl Short -Term Fund Boston Company Inc DFE: Common/Collective Trust $359,855,000
Bridgewater Opt Port 1300-016 Bridgewater Associates Inc DFE: 103-12 Investment Entity $267,962,000
Fidelity Money Market Sun Life DFE: Common/Collective Trust $428,000
Ocm Opportunities Fund V Lp Oaktree Capital Management LLC DFE: 103-12 Investment Entity $12,000
Total $1,130,409,000

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Mutual Life Insurance Company 28
EIN 41-0417830
Industry Code 66868
Contract Number 8038
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Immediate Participation Guarantee
Balance at the end of the previous year $8,148,418
Additions $294,478
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $294,478
Transferred from separate account $0
Other $0
Total of Balance and Additions $8,442,896
Deductions $60,117
Disbursed from fund to pay benefits or purchase annuities during the year $42,391
Administration charge made by carrier $17,726
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $8,382,779