401(k) · DOL Form 5500 · 2022

Xcel Energy Inc 401(k) Plan

Data updated 2026-08-11

$2.7B
Total assets: 8,771
Participants: 100th
Percentile by assets: $308,791
Avg per participant

Official DOL plan name: Xcel Energy 401(k) Savings Plan · Sponsored by Xcel Energy Inc · Minnesota · Utilities

$2.7B in assets, 8,771 participants

Xcel Energy Inc's Xcel Energy 401(k) Savings Plan reported $2.7B in total assets and 8,771 participants in its 2022 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.

100th percentile by assets (of 139,126 plans)
#702 in Utilities (738 peers)

Coverage in Minnesota

Xcel Energy 401(k) Savings Plan covers 8,771 participants in Minnesota, 7.8x the typical Minnesota plan (state average ~1,126 per filing). Assets: $2.7B.

$2.7B
total plan assets (2022 EOY): 8,771
covered participants: 100th
percentile by assets (of 139,126 plans): $308,791
avg assets per participant

The plan reported a net loss of $557M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

State

Minnesota

Industry

Utilities

Participants vs Minnesota filers

In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Xcel Energy 401(k) Savings Plan reports 8,771 participants - 7.8x that state average ($2.7B EOY assets).

Minnesota filing particulars

Total Assets (Beginning of Year)	$3.3B
Net Assets (End of Year)	$2.7B
Net Income	-$557M
Employer EIN	410448030
Plan Effective Date	1981-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Xcel Energy Inc)

Total plan assets by year, all Xcel Energy Inc plans on file

Year	Plans	Participants	Total Assets
2022	8	22,725	$6.3B
2023	8	23,520	$6.6B
2024	8	23,238	$6.7B

Nearby 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Xcel Energy 401(k) Savings Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants

Unitedhealth Group 401(k) Savings Plan $18.6B · 176,886
Medtronic Savings and Investment Plan (Also Known as the Medtronic 401(k) Plan) $12.2B · 38,825
Target Corporation 401(k) Plan $11.2B · 400,422
3M Voluntary Investment Plan and Employee Stock Ownership Plan $11.1B · 37,159
U.S. Bank 401(k) Savings Plan $8.3B · 67,646

Compare Xcel Energy 401(k) Savings Plan side-by-side with 3 peers →

Scale composition for Xcel Energy 401(k) Savings Plan

Xcel Energy 401(k) Savings Plan reports $2.7B in end-of-year assets across 8,771 participants (0.022% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.009% of 93,925,755 covered participants) - about $308,791 per participant (2.2x the national average assets-per-participant) . Net income for plan year 2022 was -$557M.

This plan identity (EIN 410448030, plan #003) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $2.7B to $3.1B (+14.2%) while covered participants moved from 8,771 to 8,941 . Single-year sparse filers cannot show that trail.

Plan year	Participants	EOY assets	Filing
2022	8,771	$2.7B	This page
2023	9,334	$2.9B	Open filing
2024 · index core	8,941	$3.1B	Open filing

The same sponsor also keeps 4 other index-core plans on PlainRetire:

Xcel Energy 401(k) Savings Plan (401(k), $3.1B, 8,941 participants)
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees (Defined Benefit (Pension), $1.2B, 7,386 participants)
New Century Energies, Inc. Retirement Plan for Public Service Company of Colorado Bargaining Unit Ees and Former Non-Bargaining Unit Ees (Defined Benefit (Pension), $860M, 1,972 participants)
New Century Energies, Inc. Employees' Savings and Stock Ownership Plan for Bargaining Unit Employees and Former Non-Bargaining Unit Employee (401(k), $585M, 1,925 participants)

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Xcel Energy 401(k) Savings Plan by total assets, not by location.

Ameren Corporation Savings Investment Plan (MO) $2.7B · 8,851
Battelle Employees' Savings Plan (OH) $2.7B · 7,979
Universal Health Services, Inc. Retirement Savings Plan (PA) $2.7B · 60,986
Valero Energy Corporation Thrift Plan (TX) $2.7B · 7,979

Frequently Asked Questions

How did Xcel Energy 401(k) Savings Plan assets move in 2022? ▼

Xcel Energy 401(k) Savings Plan declined sharply - down 17.0% during 2022, from $3.3B to $2.7B. Reported net income was -$557M.

How have Xcel Energy Inc plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Xcel Energy Inc's sponsor-wide assets grew 6.8%, from $6.3B to $6.7B.

Where does Xcel Energy 401(k) Savings Plan rank by assets among Form 5500 filers? ▼

Xcel Energy 401(k) Savings Plan ranks in the 100th percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (among the largest 1% of all filed plans).

Which 401(k) plans are similar in size to Xcel Energy 401(k) Savings Plan? ▼

Among 401(k) plans in other states, the closest by assets is Ameren Corporation Savings Investment Plan in MO ($2.7B, 8,851 participants).

Next read for Xcel Energy 401(k) Savings Plan

Filing takeaways

Ways to act on Xcel Energy 401(k) Savings Plan's numbers.

By total assets, Xcel Energy 401(k) Savings Plan ranks among the largest 1% of all filed plans. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in Minnesota. Compare plans
Xcel Energy Inc's sponsor-wide assets have grown 6.8% since 2022 across 3 plan years on file. More Utilities plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410448030.