Minnesota 401(k) plans

Name: Minnesota 401(k) plans: assets, participants and plan-paid fees
Creator: 401(k) Monitor
License: https://401kmonitor.com/licence/

1,484

Large 401(k) plans headquartered in Minnesota are in 401(k) Monitor’s published set, holding $317.3B in total, led on headcount by Target Corporation 401(k) Plan with 427,999 active participants. Computed from DOL Form 5500 filings, plan years 2015–2025.

State means the sponsor’s address on the filing, not where employees work. The figures above read all 1,484 of the form-year-2024 DOL EFAST2 filings from Minnesota, so they are every plan of that size filed from the state; 76 of them have a page of their own here. A plan with fewer than 100 participants files a shorter form and is not in this data at all.

63 of the biggest 401(k) plans headquartered in Minnesota

The plans this site submits to search engines come first, then the rest of the ones with a page; each group is ranked by active participants, the people still building up a balance. plan years 2015–2025, DOL EFAST2 bulk data. Assets in USD. Every row links to its full fact page.
#	Plan	City	Active participants	Assets
1	Target Corporation 401(k) Plan	Brooklyn Park	427,999	$14.4B
2	UnitedHealth Group 401(k) Savings Plan	Minnetonka	199,134	$26.6B
3	Wells Fargo & Company 401(k) Plan	Minneapolis	167,176	$57.9B
4	Best Buy Retirement Savings Plan	Richfield	83,696	$3.1B
5	U.S. Bank 401(k) Savings Plan	Minneapolis	67,658	$11.4B
6	Life Time And Its Affiliates 401(k) Plan	Chanhassen	41,362	$332.1M
7	Sevita 401(k) Plan	Edina	38,828	$347.2M
8	Medtronic Savings And Investment Plan	Minneapolis	38,035	$13.7B
9	OptumCare 401(k) Retirement Plan	Minnetonka	34,555	$4.6B
10	The Travelers 401(k) Savings Plan	St. Paul	30,785	$10.4B
11	Allina 401(k) Retirement Savings Plan	Minneapolis	28,274	$3.5B
12	The Cargill Partnership Plan	Wayzata	26,979	$8.9B
13	Fairview Health Services 403(b) Plan	Minneapolis	24,777	$3.3B
14	3M Voluntary Investment Plan And Employee Stock Ownership Plan	St. Paul	21,780	$10.6B
15	Ecolab Savings Plan And ESOP	St. Paul	19,704	$4.2B
16	Fastenal Company & Subsidiaries 401(k) And Employee Stock Ownership Plan	Winona	17,820	$1.1B
17	General Mills 401(k) Plan	Minneapolis	16,628	$5.0B
18	Essentia Health Retirement Plan	Duluth	16,170	$2.2B
19	Surgical Care Affiliates, LLC Retirement Investment Plan	Minnetonka	13,426	$712.8M
20	Andersen 401(k) Plan	Bayport	13,271	$1.5B
21	Centracare Health System Retirement Plan	Saint Cloud	11,676	$1.2B
22	Solventum Voluntary Investment Plan	Maplewood	11,390	$2.6B
23	Rbc- U.S.A. Retirement And Savings Plan	Minneapolis	10,111	$4.3B
24	Schwan's Company Retirement Savings Plan	Bloomington	9,135	$632.3M
25	Xcel Energy 401(k) Savings Plan	Minneapolis	9,075	$3.1B
26	Ameriprise Financial 401(k) Plan	Minneapolis	8,958	$3.6B
27	CHS Inc. 401(k) Plan	Inver Grove Heights	8,864	$1.8B
28	Taylor Corporation 401(k) Plan	North Mankato	8,381	$910.3M
29	Park Nicollet Health Services 401(k) Retirement Savings Plan	St. Louis Park	8,313	$2.2B
30	Robinson Companies Retirement Plan	Eden Prairie	8,285	$1.8B
31	Thomson Reuters 401(k) Savings Plan	Eagan	8,130	$4.5B
32	Polaris 401(k) Retirement Savings Plan	Medina	8,003	$1.1B
33	Cliftonlarsonallen LLP 401(k) Retirement Plan	Minneapolis	7,938	$1.5B
34	The Marvin Companies Profit Sharing And 401(k) Plan	Warroad	7,932	$692.9M
35	Cardinal Cash-In II Plan	Eden Prairie	7,811	$676.5M
36	Caribou Coffee Company, Inc. And Subsidiaries 401(k) Plan	Brooklyn Center	7,328	$46.3M
37	UFCW Local Union 1189 And St. Paul Food Employers Defined Contribution Plan	Bloomington	7,276	$226.4M
38	Prime Therapeutics LLC 401(k) Plan	Eagan	7,237	$911.3M
39	Marsden Retirement Savings Plan	St. Paul	7,167	$21.9M
40	Coborn's Incorporated Employees Profit Sharing 401(k) Plan	Saint Cloud	7,095	$162.1M
41	The Toro Company Retirement Plan	Minneapolis	6,972	$1.4B
42	North Memorial Health	Robbinsdale	6,744	$778.3M
43	Retirement Savings Plan For Daikin Group Affiliated Companies	Minneapolis	6,659	$589.8M
44	Thrivent 401(k) Plan	Minneapolis	6,452	$1.7B
45	Kelsey-Seybold 401(k) Plan	Minnetonka	6,334	$743.5M
46	Agiliti 401(k)	Eden Prairie	6,179	$302.3M
47	Patterson Companies, Inc. 401(k) Plan	Saint Paul	5,994	$999.1M
48	Electrical Workers Local No. 292 Defined Contribution And 401(k) Plan	Brooklyn Park	5,698	$1.2B
49	Atrius 401(k) Retirement Savings Plan	Minnetonka	5,536	$1.6B
50	Monarch Healthcare 401(k) Plan	Mankato	5,522	$34.8M
51	Homeservices Retirement Savings Plan	Eden Prairie	5,458	$790.9M
52	Procare Hr Retirement Savings Plan	Minneapolis	5,404	$49.1M
53	Winnebago Industries, Inc. Profit Sharing And Deferred Savings And Investment Plan	Eden Prairie	5,314	$360.9M
54	Medtronic Puerto Rico Employees' Savings And Investment Plan	Minneapolis	5,274	$386.1M
55	Api Group, Inc. 401(k) & Profit Sharing Plan	New Brighton	5,096	$675.7M
56	Jennie-O Turkey Store Retirement Savings Plan	Willmar	4,996	$274.5M
57	Hormel Foods Corporation Tax Deferred Investment Plan A *	Austin	4,987	$1.2B
58	Allianz Asset Accumulation Plan	Minneapolis	4,904	$2.1B
59	Ebenezer Society 401(k) Profit-Sharing Plan	Edina	4,870	$64.4M
60	Fairview Health Services 403(b) Plan For Mna Employees	Minneapolis	4,784	$454.8M
61	University Of Minnesota Physicians Retirement Savings And 401(k) Plan	Minneapolis	4,740	$1.1B
62	Deluxe Corporation 401(k) Plan	Minneapolis	4,706	$1.5B
63	Pentair Inc. Retirement Savings And Stock	Golden Valley	4,636	$909.7M

Every Minnesota plan page, by size

The table above is the top of the list. These 4 pages hold the 76 published plan pages from Minnesota, out of 1,484 filings of that kind in the data, split by how many people are in them, each ranked by active participants.

401(k) fees in Minnesota vs the national median

Plan-paid administrative cost per participant, plan years 2015–2025 Form 5500 filings. Computed over every large plan filed from Minnesota, whether or not it has a page here. The medians read only the ones whose filing reports a plan-paid cost.
Minnesota medianAcross the 1,420 Minnesota plans in our set with usable fee data.	$133.83 per participant
National medianAcross 54,782 published plans with usable fee data.	$122.17 per participant
Difference	$11.66 above the national median

Plan-paid means fees the plan itself reports on Schedule H; many employers pay providers directly, which a filing reports as $0. How to judge your own plan: are your 401(k) fees high?

Minnesota employers with a match dossier

These Minnesota-headquartered plans also file an SEC Form 11-K, so the employer’s match formula, vesting and eligibility are extracted on a company page.

ALLETE INC 401(k) match
Allete And Affiliated Companies Retirement Savings And Stock Ownership Plan
Best Buy Co., Inc. 401(k) match
Best Buy Retirement Savings Plan
Canadian Pacific Kansas City Limited 401(k) match
Cp 401(k) Savings Plan
Pentair plc 401(k) match
Pentair Inc. Retirement Savings And Stock
U.S. Bancorp 401(k) match
U.S. Bank 401(k) Savings Plan
UnitedHealth Group Incorporated 401(k) match
UnitedHealth Group 401(k) Savings Plan

Useful links

All states
Plan counts, fees and largest plans, state by state.
The largest 401(k) plans in the US
The national ranking these state tables are drawn from.
Average 401(k) fees by plan size
Fees depend on plan size more than on state.

Cite: 401(k) Monitor, “Minnesota 401(k) plans: largest plans and fees”, computed from DOL EFAST2 Form 5500 bulk data, plan years 2015–2025, published set of 57,824 plans, data as of July 28, 2026.