401(k) · DOL Form 5500 · 2023
Allete, Inc. 401(k) Plan
Data updated 2026-08-25
- $546M
- Total assets Above avg plan size
- 1,433
- Participants Near avg headcount
- 98th
- Percentile by assets National rank
- $381,137
- Avg per participant High balance/head
Official DOL plan name: Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan · Sponsored by Allete, Inc. · Minnesota · Utilities
$546M in assets, 1,433 participants
Allete, Inc.'s Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan reported $546M in total assets and 1,433 participants in its 2023 DOL Form 5500 filing, ranking in the 98th 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.
- #599 in Utilities (721 peers)
Where Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan sits by assets
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan sits in the top 5% of all filed plans by assets, $546M for 1,433 participants (~$381,137/participant), up 12.8% in 2023.
- #599
- in Utilities (721 peers)
- +12.8%
- assets growth YoY
- 5.5×
- vs typical plan assets (national mean)
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan's outsized position by total assets
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$546,169,297 Top 2% higher than 98% of 127,068 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan's large-plan peer group by participant headcount
Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan lands in the large band (1,433 participants).
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan reported net income rose from -$81M in the plan year 2022 filing to $60M in the plan year 2023 filing.
- Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan end-of-year assets rose from $484M in the plan year 2022 filing to $546M in the plan year 2023 filing.
- Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan reported participants rose from 1,385 in the plan year 2022 filing to 1,433 in the plan year 2023 filing.
DOL schedule card
Filing strip 410418150 · Allete, Inc. PY 2023 · 401(k)
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan · $546M · 1,433 · 98th
- EOY $546M
- 5500 1,433
- ASSETS 98th
- PCT 401(k)
- EIN near Consolidated Nuclear Security, LLC 401(k) for Non-Bargaining Pantex Location Employees
- RANK ind #599
Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Utilities retirement plans → · Plans in Minnesota →
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan in the asset neighbourhood
Scale-class filing particulars (2023)
| Total Assets (Beginning of Year) | $484M |
|---|---|
| Net Assets (End of Year) | $546M |
| Net Income | $60M |
| Employer EIN | 410418150 |
| Plan Effective Date | 1970-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Allete, Inc.)
Sponsor-wide plan assets over time
All Allete, Inc. plans reported in each filing year
- Latest sponsor-wide plan assets
- $1.2B 14.134002992784422% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 1,910 | $1.1B |
| 2023 | 3 | 1,923 | $1.1B |
| 2024 | 3 | 2,021 | $1.2B |
Nearby 401(k) Plans in Minnesota
Peer 401(k) plans, same state, same plan type, ranked by total assets.
- 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
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan's out-of-state 401(k) peers by assets and headcount
Outside Minnesota, the nearest 401(k) by assets is Consolidated Nuclear Security, LLC 401(k) for Non-Bargaining Pantex Location Employees in TN ($547M); by covered participants it is Retirement Savings Plan for Employees of Seacoast National Bank in FL (1,433 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($546M here).
- Consolidated Nuclear Security, LLC 401(k) for Non-Bargaining Pantex Location Employees (TN) $547M · 2,217
- Weston Solutions, Inc. Retirement Savings and Employee Stock Ownership Plan (PA) $545M · 1,112
- New York Community Bancorp, Inc. Employee Savings Plan (NY) $545M · 2,613
- The Quikrete Companies Profit Sharing and Tax (GA) $545M · 12,116
Similar participant headcount
Nearest other-state filings by covered participants (1,433 participants); asset peers above are excluded.
- Retirement Savings Plan for Employees of Seacoast National Bank (FL) 1,433 · 0 off
- Forman Mills, 401(k) Retirement Plan (NJ) 1,433 · 0 off
- Everbank, N.a. 401(k) Plan (FL) 1,433 · 0 off
- Applied Technical Services, 401(k) Plan (GA) 1,433 · 0 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.