401(k) · DOL Form 5500 · 2023
Xcel Energy Inc 401(k) Plan
Data updated 2026-08-11
- $2.9B
- Total assets
- 9,334
- Participants
- 100th
- Percentile by assets
- $315,867
- Avg per participant
Official DOL plan name: Xcel Energy 401(k) Savings Plan · Sponsored by Xcel Energy Inc · Minnesota · Utilities
$2.9B in assets, 9,334 participants
Xcel Energy Inc's Xcel Energy 401(k) Savings Plan reported $2.9B in total assets and 9,334 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.
- 100th percentile by assets (of 127,072 plans)
- #685 in Utilities (721 peers)
Coverage in Minnesota
Xcel Energy 401(k) Savings Plan covers 9,334 participants in Minnesota, 8.3x the typical Minnesota plan (state average ~1,126 per filing). Assets: $2.9B.
- $2.9B
- total plan assets (2023 EOY)
- 9,334
- covered participants
- 100th
- percentile by assets (of 127,072 plans)
- $315,867
- avg assets per participant
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Xcel Energy 401(k) Savings Plan reported net income rose from -$557M in the plan year 2022 filing to $240M in the plan year 2023 filing.
- Xcel Energy 401(k) Savings Plan end-of-year assets rose from $2.7B in the plan year 2022 filing to $2.9B in the plan year 2023 filing.
- Xcel Energy 401(k) Savings Plan reported participants rose from 8,771 in the plan year 2022 filing to 9,334 in the plan year 2023 filing.
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 9,334 participants - 8.3x that state average ($2.9B EOY assets).
Minnesota filing particulars
| Total Assets (Beginning of Year) | $2.7B |
|---|---|
| Net Assets (End of Year) | $2.9B |
| Net Income | $240M |
| Employer EIN | 410448030 |
| Plan Effective Date | 1981-01-01 |
| 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 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 $22.4B · 198,972
- Target Corporation 401(k) Plan $13.0B · 432,617
- Medtronic Savings and Investment Plan $12.9B · 44,342
- 3M Voluntary Investment Plan and Employee Stock Ownership Plan $12.0B · 36,049
- U.S. Bank 401(k) Savings Plan $10.3B · 75,272
Scale composition for Xcel Energy 401(k) Savings Plan
Xcel Energy 401(k) Savings Plan reports $2.9B in end-of-year assets across 9,334 participants (0.024% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.010% of 93,925,755 covered participants) - about $315,867 per participant (2.3x the national average assets-per-participant) . Net income for plan year 2023 was $240M.
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 | Open filing |
| 2023 | 9,334 | $2.9B | This page |
| 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.
- Justworks Retirement Savings Plan (NY) $2.9B · 79,355
- The Hy-Vee and Affiliates 401(k) Plan (IA) $2.9B · 56,181
- Iowa Health System Section 401(k) Retirement Savings Plan (IA) $3.0B · 28,959
- Inova Health System Retirement Savings Plan (VA) $2.9B · 19,635
Frequently Asked Questions
How did Xcel Energy 401(k) Savings Plan assets move in 2023? ▼
How have Xcel Energy Inc plan assets changed over time? ▼
Where does Xcel Energy 401(k) Savings Plan rank by assets among Form 5500 filers? ▼
Which 401(k) plans are similar in size to Xcel Energy 401(k) Savings Plan? ▼
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