Defined Benefit (Pension) · DOL Form 5500 · 2023

Black Hills Corporation Pension Plan

Data updated 2026-08-25

$311M
Total assets Above avg plan size
776
Participants Near avg headcount
96th
Percentile by assets National rank
$400,466
Avg per participant High balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Black Hills Retirement Plan · Sponsored by Black Hills Corporation · South Dakota · Utilities

$311M in assets, 776 participants

Black Hills Corporation's Black Hills Retirement Plan reported $311M in total assets and 776 participants in its 2023 DOL Form 5500 filing, ranking in the 96th 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.

  • #554 in Utilities (721 peers)

Coverage in South Dakota

Black Hills Retirement Plan covers 776 participants in South Dakota, 2.3x the typical South Dakota plan (state average ~340 per filing). Assets: $311M.

#554
in Utilities (721 peers)
-3.8%
assets change YoY
3.1×
vs typical plan assets (national mean)

The plan reported a net loss of $12M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Black Hills Retirement Plan's outsized position by total assets

Black Hills Retirement Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$310,761,794 Top 4% higher than 96% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Black Hills Retirement Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Black Hills Retirement Plan sits mid-pack in the medium band (776 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Black Hills Retirement Plan reported net income rose from -$135M in the plan year 2022 filing to -$12M in the plan year 2023 filing.
  • Black Hills Retirement Plan reported participants fell from 857 in the plan year 2022 filing to 776 in the plan year 2023 filing.
  • Black Hills Retirement Plan end-of-year assets fell from $323M in the plan year 2022 filing to $311M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 460458824 · Black Hills Corporation PY 2023 · Defined Benefit (Pension)

Black Hills Retirement Plan · $311M · 776 · 96th

  • BOY $311M
  • BOY 776
  • BOY 96th
  • BOY Defined Benefit (Pension)
  • BOY near Hotel Industry-Ilwu Pension Plan
  • BOY ind #554

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 South Dakota →

Black Hills Retirement Plan in the asset neighbourhood

Black Hills Retirement Plan$311MHotel Industry-Ilwu Pension PlanHotel Industry-Ilwu Pension …$310MPipe Fitters Local No 533 Pension PlanPipe Fitters Local No 533 Pe…$310MBna Employees Retirement Plan$309MNortheast Georgia Health System, Inc. and Affiliated Companies Pension PlanNortheast Georgia Health Sys…$309M
End-of-year total assets ($M) among Black Hills Retirement Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

South Dakota filing particulars

Total Assets (Beginning of Year)$323M
Net Assets (End of Year)$311M
Net Income-$12M
Employer EIN460458824
Plan Effective Date2008-07-14
Filing StatusFILING RECEIVED

Sponsor Plan History (Black Hills Corporation)

Sponsor-wide plan assets over time

All Black Hills Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$1.1B 15.443879787902763% vs 2022
2024 filing year
$0.9B$0.95B$1B$1.05B$1.1B 202220232024 $0.94B $1.08B ▲ +14.9%
Year Plans Participants Total Assets
2022 2 3,730 $938M
2023 2 3,748 $1.0B
2024 2 3,573 $1.1B

Nearby Defined Benefit (Pension) Plans in South Dakota

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Black Hills Retirement Plan vs. nearby Defined Benefit (Pension) plans in South Dakota, assets vs. participants Scatter plot of 5 data points. -100001000200030004000 0100200300400 Total assets ($M) Participants Black Hills Retirement Plan, Total assets ($M): 310.761794 · Participants: 776Black Hills Retirement PlanSanford Health Employees' Pension Plan, Total assets ($M): 236.364076 · Participants: 376Sanford Health Employees' Pension PlanBakers Local No 433 Pension Plan, Total assets ($M): 146.452409 · Participants: 0Bakers Local No 433 Pension PlanMonument Health, Inc. Pension Plan, Total assets ($M): 106.098481 · Participants: 3078Monument Health, Inc. Pension PlanGcc Dacotah, Inc. Defined Benefit Pension Plan, Total assets ($M): 25.177823 · Participants: 37Gcc Dacotah, Inc. Defined Benefit Pension Plan
Black Hills Retirement Plan vs. nearby Defined Benefit (Pension) plans in South Dakota, assets vs. participants
Compare Black Hills Retirement Plan side-by-side with 3 peers →

Black Hills Retirement Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside South Dakota, the nearest Defined Benefit (Pension) by assets is Hotel Industry-Ilwu Pension Plan in HI ($310M); by covered participants it is Vulcan Materials Company Pension Plan in AL (776 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($311M here).

Similar participant headcount

Nearest other-state filings by covered participants (776 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Black Hills Retirement Plan assets move in 2023? ▼
Black Hills Retirement Plan edged down modestly - down 3.8% during 2023, from $323M to $311M. Reported net income was -$12M.
How have Black Hills Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Black Hills Corporation's sponsor-wide assets grew 15.4%, from $938M to $1.1B.
Where does Black Hills Retirement Plan rank by assets among Form 5500 filers? ▼
Black Hills Retirement Plan ranks in the 96th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to Black Hills Retirement Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Hotel Industry-Ilwu Pension Plan in HI ($310M, 5,828 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Black Hills Retirement Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Vulcan Materials Company Pension Plan in AL (776 participants, $508M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 460458824.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.