Retirement in Minnesota
3 employer retirement plans headquartered in Minnesota (Source: DOL Form 5500)
Minnesota is home to 3 of the largest employer retirement plans in our database, with combined assets of approximately $46.6B serving 732,000 participants (Source: DOL Form 5500). The average expense ratio for plans headquartered in Minnesota is approximately 0.23%, compared to the national average of 0.21% in our database.
Largest Plans in Minnesota
The largest plans by total assets include: UnitedHealth Group ($21.8B in assets, 310,000 participants); Target ($13.2B in assets, 350,000 participants); 3M ($11.6B in assets, 72,000 participants). All data from DOL Form 5500 annual filings (Source: Department of Labor).
Retirement Readiness
Based on available data for the largest plans headquartered in Minnesota, the average assets per participant is approximately $90K (Source: DOL Form 5500). Retirement readiness depends on many individual factors including age, savings rate, investment allocation, and expected retirement expenses. Common benchmarks suggest having 1x annual salary saved by age 30, 3x by 40, and 6x by 50, though these are general guidelines and individual needs vary significantly.
Plans in Minnesota
| Sponsor | Assets | Participants | Expense Ratio |
|---|---|---|---|
| UnitedHealth Group | $21.8B | 310,000 | 0.22% |
| Target | $13.2B | 350,000 | 0.27% |
| 3M | $11.6B | 72,000 | 0.19% |
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Data sourced from DOL Form 5500 annual filings (Source: Department of Labor). RetireGrader is not a financial advisor or fiduciary. Content is for educational purposes only.