Medtronic, Inc.401(k) + ESOP (KSOP)
MEDTRONIC SAVINGS AND INVESTMENT PLAN (ALSO KNOWN AS THE MEDTRONIC 401(K) PLAN) · MINNEAPOLIS, MN · plan year 2024
Medtronic, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $13,719,378,000 across 55,071 participant accounts, with employer contributions averaging $9,093 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the over $1B size bracket, benchmarked here against 1,229 comparable plans and shown alongside other manufacturing employers. By assets it is the 4th-largest of 1,918 plans among Minnesota employers on file, and the 24th of 13,661 in manufacturing. In 2024, employees put in $1.47 for every $1.00 the employer contributed; active participation has shrunk from 44,342 to 38,035 since 2022.
Medtronic, Inc.'s 2024 employer contribution ran above the $5,259 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 410793183 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.