401(k) · DOL Form 5500 · 2023
Medtronic, Inc. 401(k) Plan
Data updated 2026-08-25
- $12.9B
- Total assets Mega-plan scale
- 44,342
- Participants Very large workforce
- 100th
- Percentile by assets National rank
- $291,642
- Avg per participant High balance/head
Official DOL plan name: Medtronic Savings and Investment Plan · Sponsored by Medtronic, Inc. · Minnesota · Manufacturing
$12.9B in assets, 44,342 participants
Medtronic, Inc.'s Medtronic Savings and Investment Plan reported $12.9B in total assets and 44,342 participants in its 2023 DOL Form 5500 filing, ranking in the 100th 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.
- #18,687 in Manufacturing (18,722 peers)
Coverage in Minnesota
Medtronic Savings and Investment Plan covers 44,342 participants in Minnesota, 39x the typical Minnesota plan (state average ~1,126 per filing). Assets: $12.9B.
- #18,687
- in Manufacturing (18,722 peers)
- +6.0%
- assets growth YoY
- 130×
- vs typical plan assets (national mean)
Medtronic Savings and Investment Plan's outsized position by total assets
Medtronic Savings and Investment Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$12,931,979,000 Highest reported value at or above every one of 127,068 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023
Medtronic Savings and Investment Plan's mega-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 Savings and Investment Plan is a mega filing (44,342 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Medtronic Savings and Investment Plan reported net income rose from $32M in the plan year 2022 filing to $734M in the plan year 2023 filing.
- Medtronic Savings and Investment Plan reported participants rose from 38,825 in the plan year 2022 filing to 44,342 in the plan year 2023 filing.
- Medtronic Savings and Investment Plan end-of-year assets rose from $12.2B in the plan year 2022 filing to $12.9B in the plan year 2023 filing.
DOL schedule card
Filing strip 410793183 · Medtronic, Inc. PY 2023 · 401(k)
Medtronic Savings and Investment Plan · $12.9B · 44,342 · 100th
- PCT $12.9B
- PCT 44,342
- PCT 100th
- PCT 401(k)
- PCT near U.S. Roche 401(k) Savings Plan
- PCT ind #18687
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 Savings and Investment Plan in the asset neighbourhood
Minnesota filing particulars
| Total Assets (Beginning of Year) | $12.2B |
|---|---|
| Net Assets (End of Year) | $12.9B |
| Net Income | $734M |
| Employer EIN | 410793183 |
| Plan Effective Date | 1989-05-01 |
| Filing Status | FILING 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
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 48,987 | $15.9B |
| 2023 | 3 | 53,292 | $16.7B |
| 2024 | 3 | 46,654 | $17.7B |
Nearby 401(k) Plans in Minnesota
Peer 401(k) plans, same state, same plan type, ranked by total assets.
- Unitedhealth Group 401(k) Savings Plan $22.4B · 198,972
- Target Corporation 401(k) Plan $13.0B · 432,617
- 3M Voluntary Investment Plan and Employee Stock Ownership Plan $12.0B · 36,049
- U.S. Bank 401(k) Savings Plan $10.3B · 75,272
- The Travelers 401(k) Savings Plan $9.2B · 29,650
Scale composition for Medtronic Savings and Investment Plan
Medtronic Savings and Investment Plan reports $12.9B in end-of-year assets across 44,342 participants (0.10% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.047% of 93,925,755 covered participants) - about $291,642 per participant (2.1x the national average assets-per-participant) . Net income for plan year 2023 was $734M.
This plan identity (EIN 410793183, plan #005) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $12.2B to $13.7B (+12.5%) while covered participants moved from 38,825 to 38,480 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 38,825 | $12.2B | Open filing |
| 2023 | 44,342 | $12.9B | This page |
| 2024 · index core | 38,480 | $13.7B | Open filing |
The same sponsor also keeps 3 other index-core plans on PlainRetire:
- Medtronic Savings and Investment Plan (401(k), $13.7B, 38,480 participants)
- Medtronic Retirement Plan for Certain Participants and Beneficiaries (Defined Benefit (Pension), $2.4B, 7,184 participants)
- Medtronic Retirement Plan (Defined Benefit (Pension), $1.5B, 990 participants)
Medtronic Savings and Investment Plan's out-of-state 401(k) peers by assets and headcount
Outside Minnesota, the nearest 401(k) by assets is U.S. Roche 401(k) Savings Plan in CA ($12.9B); by covered participants it is Panda Retirement Plan in CA (44,486 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($12.9B here).
- U.S. Roche 401(k) Savings Plan (CA) $12.9B · 23,512
- Cigna 401(k) Plan (PA) $13.0B · 66,760
- UPS 401(k) Savings Plan (GA) $13.1B · 102,231
- The Home Depot Futurebuilder (GA) $12.6B · 413,365
Similar participant headcount
Nearest other-state filings by covered participants (44,342 participants); asset peers above are excluded.
- Panda Retirement Plan (CA) 44,486 · 144 off
- Robert Half Inc. 401(k) Plan for Contract Talent and Full-Time Engagement Professionals (CA) 44,082 · 260 off
- Cox Enterprises, Inc. 401(k) Plan (GA) 44,853 · 511 off
- Northwell Health 401(k) Plan (NY) 45,191 · 849 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.