401(k) · DOL Form 5500 · 2024
Xcel Energy Inc. 401(k) Plan
Data updated 2026-08-25
- $3.1B
- Total assets Very large vs avg
- 8,941
- Participants Very large workforce
- 99th
- Percentile by assets National rank
- $345,945
- Avg per participant High balance/head
Official DOL plan name: Xcel Energy 401(k) Savings Plan · Sponsored by Xcel Energy Inc. · Minnesota · Utilities
$3.1B in assets, 8,941 participants
Xcel Energy Inc.'s Xcel Energy 401(k) Savings Plan reported $3.1B in total assets and 8,941 participants in its 2024 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.
- #699 in Utilities (732 peers)
Coverage in Minnesota
Xcel Energy 401(k) Savings Plan covers 8,941 participants in Minnesota, 7.9x the typical Minnesota plan (state average ~1,126 per filing). Assets: $3.1B.
- #699
- in Utilities (732 peers)
- +4.9%
- assets growth YoY
- 31×
- vs typical plan assets (national mean)
Xcel Energy 401(k) Savings Plan's outsized position by total assets
Xcel Energy 401(k) Savings Plan vs every filed plan by assets
End-of-year total assets · plan year 2024 · DOL Form 5500
$3,093,091,164 Top 1% higher than 99% of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
Xcel Energy 401(k) Savings Plan's large-plan peer group by participant headcount
Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Xcel Energy 401(k) Savings Plan lands in the large band (8,941 participants).
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Xcel Energy 401(k) Savings Plan reported net income fell from $240M in the plan year 2023 filing to $145M in the plan year 2024 filing.
- Xcel Energy 401(k) Savings Plan end-of-year assets rose from $2.9B in the plan year 2023 filing to $3.1B in the plan year 2024 filing.
- Xcel Energy 401(k) Savings Plan reported participants fell from 9,334 in the plan year 2023 filing to 8,941 in the plan year 2024 filing.
Published 5500 schedule card
Filing strip 410448030 · Xcel Energy Inc. PY 2024 · 401(k)
Xcel Energy 401(k) Savings Plan · $3.1B · 8,941 · 99th
- NET $3.1B
- BOOK 8,941
- VS-ST 99th
- BOY 401(k)
- SCH near Te Connectivity Retirement Savings and Investment Plan
- EBSA ind #699
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 401(k) Savings Plan in the asset neighbourhood
Minnesota filing particulars
| Total Assets (Beginning of Year) | $2.9B |
|---|---|
| Net Assets (End of Year) | $3.1B |
| Net Income | $145M |
| Employer EIN | 410448030 |
| Plan Effective Date | 1981-01-01 |
| Filing Status | FILING 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
| 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.
- Wells Fargo & Company 401(k) Plan $57.9B · 179,076
- Unitedhealth Group 401(k) Savings Plan $26.6B · 205,460
- Target Corporation 401(k) Plan $14.4B · 409,649
- Medtronic Savings and Investment Plan $13.7B · 38,480
- U.S. Bank 401(k) Savings Plan $11.4B · 73,109
Scale composition for Xcel Energy 401(k) Savings Plan
Xcel Energy 401(k) Savings Plan reports $3.1B in end-of-year assets across 8,941 participants (0.025% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.010% of 93,925,755 covered participants) - about $345,945 per participant (2.5x the national average assets-per-participant) . Net income for plan year 2024 was $145M.
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 | Open filing |
| 2024 · index core | 8,941 | $3.1B | This page |
The same sponsor also keeps 4 other index-core plans on PlainRetire:
- 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)
- New Century Energies, Inc. Retirement Plan for Southwestern Public Service Co. Bargaining Unit Ee and Former Non-Bargaining Unit Employees (Defined Benefit (Pension), $343M, 872 participants)
Xcel Energy 401(k) Savings Plan's out-of-state 401(k) peers by assets and headcount
Outside Minnesota, the nearest 401(k) by assets is Te Connectivity Retirement Savings and Investment Plan in PA ($3.1B); by covered participants it is Empower Hr Retirement Savings Plan in AZ (8,930 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($3.1B here).
- Te Connectivity Retirement Savings and Investment Plan (PA) $3.1B · 8,847
- Southern California Gas Company Retirement Savings Plan (CA) $3.1B · 8,998
- Boehringer Ingelheim USA Corporation & Its Affiliates Retirement Savings Plan (CT) $3.1B · 8,641
- The Hy-Vee and Affiliates 401(k) Plan (IA) $3.1B · 55,411
Similar participant headcount
Nearest other-state filings by covered participants (8,941 participants); asset peers above are excluded.
- Empower Hr Retirement Savings Plan (AZ) 8,930 · 11 off
- Pitney Bowes Inc. 401(k) Plan (CT) 8,954 · 13 off
- Fidelity Advantage 401(k) (MA) 8,955 · 14 off
- Blue Cross and Blue Shield of Florida, Inc. 401(k) Retirement Savings Plan (FL) 8,959 · 18 off
DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.