Defined Benefit (Pension) · DOL Form 5500 · 2023

Medtronic, Inc. Pension Plan

Data updated 2026-08-25

$1.5B
Total assets Very large vs avg
1,079
Participants Near avg headcount
99th
Percentile by assets National rank
$1.4M
Avg per participant High balance/head
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Official DOL plan name: Medtronic Retirement Plan · Sponsored by Medtronic, Inc. · Minnesota · Manufacturing

$1.5B in assets, 1,079 participants

Medtronic, Inc.'s Medtronic Retirement Plan reported $1.5B in total assets and 1,079 participants in its 2023 DOL Form 5500 filing, ranking in the 99th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #18,390 in Manufacturing (18,722 peers)

Where Medtronic Retirement Plan sits by assets

Medtronic Retirement Plan sits among the largest 1% of all filed plans, $1.5B for 1,079 participants (~$1.4M/participant), down 4.2% in 2023.

#18,390
in Manufacturing (18,722 peers)
-4.2%
assets change YoY
15×
vs typical plan assets (national mean)

The plan reported a net loss of $65M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Medtronic Retirement Plan's outsized position by total assets

Medtronic Retirement Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$1,491,814,000 Top 1% higher than 99% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Medtronic Retirement Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Medtronic Retirement Plan lands in the large band (1,079 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Medtronic Retirement Plan reported net income rose from -$91M in the plan year 2022 filing to -$65M in the plan year 2023 filing.
  • Medtronic Retirement Plan reported participants fell from 1,131 in the plan year 2022 filing to 1,079 in the plan year 2023 filing.
  • Medtronic Retirement Plan end-of-year assets fell from $1.6B in the plan year 2022 filing to $1.5B in the plan year 2023 filing.

See the national 2022→2023 release diff →

Plan-year Form 5500 strip

Filing strip 410793183 · Medtronic, Inc. PY 2023 · Defined Benefit (Pension)

Medtronic Retirement Plan · $1.5B · 1,079 · 99th

  • 5500 $1.5B
  • 5500 1,079
  • 5500 99th
  • 5500 Defined Benefit (Pension)
  • 5500 near NECA-IBEW Pension Trust Fund
  • 5500 ind #18390

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Manufacturing retirement plans → · Plans in Minnesota →

Medtronic Retirement Plan in the asset neighbourhood

Aarp Employees' Pension Plan$1.5BNECA-IBEW Pension Trust Fund$1.5BCleveland-Cliffs Steel Corporation Noncontributory Pension PlanCleveland-Cliffs Steel Corpo…$1.5BMedtronic Retirement Plan$1.5BKoch Employees' Pension Plan$1.5B
End-of-year total assets ($B) among Medtronic Retirement Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$1.6B
Net Assets (End of Year)$1.5B
Net Income-$65M
Employer EIN410793183
Plan Effective Date1983-05-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Medtronic, Inc.)

Sponsor-wide plan assets over time

All Medtronic, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$17.7B 11.094320666868759% vs 2022
2024 filing year
$15B$16B$17B$18B 202220232024 $15.9B $17.7B ▲ +11.1%
Year Plans Participants Total Assets
2022 3 48,987 $15.9B
2023 3 53,292 $16.7B
2024 3 46,654 $17.7B

Nearby Defined Benefit (Pension) Plans in Minnesota

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Medtronic Retirement Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 051015 Total assets ($B) Participants Medtronic Retirement Plan, Total assets ($B): 1.491814 · Participants: 1079Medtronic Retirement Plan3M Employee Retirement Income Plan, Total assets ($B): 14.281991028 · Participants: 106383M Employee Retirement Income PlanMayo Pension Plan, Total assets ($B): 11.032936702 · Participants: 69155Mayo Pension PlanThe Travelers Pension Plan, Total assets ($B): 4.150985971 · Participants: 24884The Travelers Pension PlanGeneral Mills Pension Plan I, Total assets ($B): 3.991064596 · Participants: 383General Mills Pension Plan IU.S. Bank Pension Plan, Total assets ($B): 3.969502742 · Participants: 56287U.S. Bank Pension Plan
Medtronic Retirement Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
Compare Medtronic Retirement Plan side-by-side with 3 peers →

Medtronic Retirement Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Minnesota, the nearest Defined Benefit (Pension) by assets is NECA-IBEW Pension Trust Fund in IL ($1.5B); by covered participants it is Sparrow Health System Associate Pension Plan in MI (1,080 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($1.5B here).

Similar participant headcount

Nearest other-state filings by covered participants (1,079 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Medtronic Retirement Plan assets move in 2023? ▼
Medtronic Retirement Plan edged down modestly - down 4.2% during 2023, from $1.6B to $1.5B. Reported net income was -$65M.
How have Medtronic, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Medtronic, Inc.'s sponsor-wide assets grew 11.1%, from $15.9B to $17.7B.
Where does Medtronic Retirement Plan rank by assets among Form 5500 filers? ▼
Medtronic Retirement Plan ranks in the 99th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to Medtronic Retirement Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is NECA-IBEW Pension Trust Fund in IL ($1.5B, 5,763 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Medtronic Retirement Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Sparrow Health System Associate Pension Plan in MI (1,080 participants, $406M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410793183.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.