Defined Benefit (Pension) · DOL Form 5500 · 2022
Xcel Energy Inc Pension Plan
Data updated 2026-08-11
- $1.3B
- Total assets
- 7,035
- Participants
- 99th
- Percentile by assets
- $181,425
- Avg per participant
Official DOL plan name: Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees · Sponsored by Xcel Energy Inc · Minnesota · Utilities
$1.3B in assets, 7,035 participants
Xcel Energy Inc's Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees reported $1.3B in total assets and 7,035 participants in its 2022 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.
- 99th percentile by assets (of 139,126 plans)
- #674 in Utilities (738 peers)
Coverage in Minnesota
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees covers 7,035 participants in Minnesota, 6.2x the typical Minnesota plan (state average ~1,126 per filing). Assets: $1.3B.
- $1.3B
- total plan assets (2022 EOY)
- 7,035
- covered participants
- 99th
- percentile by assets (of 139,126 plans)
- $181,425
- avg assets per participant
The plan reported a net loss of $483M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Participants vs Minnesota filers
In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees reports 7,035 participants - 6.2x that state average ($1.3B EOY assets).
Minnesota filing particulars
| Total Assets (Beginning of Year) | $1.8B |
|---|---|
| Net Assets (End of Year) | $1.3B |
| Net Income | -$483M |
| Employer EIN | 410448030 |
| Plan Effective Date | 1950-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Xcel Energy Inc)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 8 | 22,725 | $6.3B |
| 2023 | 8 | 23,520 | $6.6B |
| 2024 | 8 | 23,238 | $6.7B |
Nearby Defined Benefit (Pension) Plans in Minnesota
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
- 3M Employee Retirement Income Plan $14.0B · 12,160
- Mayo Pension Plan $10.3B · 66,434
- The Travelers Pension Plan $3.9B · 25,144
- U.S. Bank Pension Plan $3.7B · 55,836
- Target Corporation Pension Plan $3.3B · 50,515
Scale composition for Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees reports $1.3B in end-of-year assets across 7,035 participants (0.010% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.007% of 93,925,755 covered participants) - about $181,425 per participant (1.3x the national average assets-per-participant) . Net income for plan year 2022 was -$483M.
This plan identity (EIN 410448030, plan #001) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $1.3B to $1.2B (-2.7%) while covered participants moved from 7,035 to 7,386 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 7,035 | $1.3B | This page |
| 2023 | 7,301 | $1.3B | Open filing |
| 2024 · index core | 7,386 | $1.2B | 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 Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees by total assets, not by location.
- Retirement Plan of Carilion Clinic (VA) $1.3B · 10,722
- Southern California Pipe Trades Retirement Fund (CA) $1.3B · 6,062
- Dominion Energy Ohio Union Pension Plan (VA) $1.3B · 1,042
- Baxter International Inc. and Subsidiaries Pension Plan (IL) $1.3B · 26
Frequently Asked Questions
How did Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees assets move in 2022? ▼
How have Xcel Energy Inc plan assets changed over time? ▼
Where does Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees rank by assets among Form 5500 filers? ▼
Which Defined Benefit (Pension) plans are similar in size to Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees? ▼
Next read for Xcel Energy Pension Plan and Xcel Energy…
Filing takeaways
Ways to act on Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees's numbers.
- By total assets, Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees ranks among the largest 1% of all filed plans. See the largest plans
- Compare it side-by-side against 3 similar Defined Benefit (Pension) 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