Defined Benefit (Pension) · DOL Form 5500 · 2023

Xcel Energy Inc. Pension Plan

Data updated 2026-08-25

$1.3B
Total assets Very large vs avg
7,301
Participants Very large workforce
99th
Percentile by assets National rank
$180,199
Avg per participant Above avg balance/head
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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, 7,301 participants

Xcel Energy Inc.'s Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees reported $1.3B in total assets and 7,301 participants in its 2023 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.

  • #659 in Utilities (721 peers)

Coverage in Minnesota

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees covers 7,301 participants in Minnesota, 6.5x the typical Minnesota plan (state average ~1,126 per filing). Assets: $1.3B.

#659
in Utilities (721 peers)
+3.1%
assets growth YoY
13×
vs typical plan assets (national mean)

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees's outsized position by total assets

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees vs every filed plan by assets

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

$1,315,629,787 Top 1% higher than 99% 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

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees'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. Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees lands in the large band (7,301 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees reported net income rose from -$483M in the plan year 2022 filing to $37M in the plan year 2023 filing.
  • Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees reported participants rose from 7,035 in the plan year 2022 filing to 7,301 in the plan year 2023 filing.
  • Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees end-of-year assets rose from $1.3B in the plan year 2022 filing to $1.3B in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 410448030 · Xcel Energy Inc. PY 2023 · Defined Benefit (Pension)

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees · $1.3B · 7,301 · 99th

  • EIN $1.3B
  • RANK 7,301
  • PHOTO 99th
  • IND Defined Benefit (Pension)
  • EOY near William Beaumont Hospital Employees' Retirement Plan
  • 5500 ind #659

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 →

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees in the asset neighbourhood

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining EmployeesXcel Energy Pension Plan and…$1.3BWilliam Beaumont Hospital Employees' Retirement PlanWilliam Beaumont Hospital Em…$1.3BWec Energy Group Retirement Account PlanWec Energy Group Retirement …$1.3BIndiana State Council of Carpenters Pension FundIndiana State Council of Car…$1.3BUnum Group Pension Plan$1.3B
End-of-year total assets ($B) among Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$1.3B
Net Assets (End of Year)$1.3B
Net Income$37M
Employer EIN410448030
Plan Effective Date1950-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Xcel Energy Inc.)

Sponsor-wide plan assets over time

All Xcel Energy Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$6.7B 6.830659372847735% vs 2022
2024 filing year
$6.2B$6.4B$6.6B$6.8B 202220232024 $6.26B $6.69B ▲ +6.9%
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 Scatter plot of 6 data points. -20000020000400006000080000 051015 Total assets ($B) Participants Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees, Total assets ($B): 1.315629787 · Participants: 7301Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees3M Employee Retirement Income Plan, Total assets ($B): 14.281991028 · Participants: 106383M Employee Retirement Income PlanMayo Pension Plan, Total assets ($B): 11.032936702 · Participants: 69155Mayo Pension PlanThe Travelers Pension Plan, Total assets ($B): 4.150985971 · Participants: 24884The Travelers Pension PlanGeneral Mills Pension Plan I, Total assets ($B): 3.991064596 · Participants: 383General Mills Pension Plan IU.S. Bank Pension Plan, Total assets ($B): 3.969502742 · Participants: 56287U.S. Bank Pension Plan
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
Compare Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees side-by-side with 3 peers →

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 7,301 participants (0.011% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.008% of 93,925,755 covered participants) - about $180,199 per participant (1.3x the national average assets-per-participant) . Net income for plan year 2023 was $37M.

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 Open filing
2023 7,301 $1.3B This page
2024 · index core 7,386 $1.2B Open filing

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

Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Minnesota, the nearest Defined Benefit (Pension) by assets is William Beaumont Hospital Employees' Retirement Plan in MI ($1.3B); by covered participants it is Electrical Workers Local No. 26 Pension Fund in MD (7,302 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($1.3B here).

Similar participant headcount

Nearest other-state filings by covered participants (7,301 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 Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees assets move in 2023? ▼
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees edged up modestly - up 3.1% during 2023, from $1.3B to $1.3B. Reported net income was $37M.
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 Pension Plan and Xcel Energy Pension Plan for Bargaining Employees rank by assets among Form 5500 filers? ▼
Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees ranks in the 99th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is William Beaumont Hospital Employees' Retirement Plan in MI ($1.3B, 7,852 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Xcel Energy Pension Plan and Xcel Energy Pension Plan for Bargaining Employees? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Electrical Workers Local No. 26 Pension Fund in MD (7,302 participants, $942M 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 410448030.

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.