401(k) · DOL Form 5500 · 2024
Allete, Inc. 401(k) Plan
Data updated 2026-08-11
- $606M
- Total assets
- 1,569
- Participants
- 98th
- Percentile by assets
- $386,024
- Avg per participant
Official DOL plan name: Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan · Sponsored by Allete, Inc. · Minnesota · Utilities
$606M in assets, 1,569 participants
Allete, Inc.'s Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan reported $606M in total assets and 1,569 participants in its 2024 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.
- 98th percentile by assets (of 123,622 plans)
- #604 in Utilities (732 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, $606M for 1,569 participants (~$386,024/participant), up 10.9% in 2024.
- $606M
- total plan assets (2024 EOY)
- 1,569
- covered participants
- 98th
- percentile by assets (of 123,622 plans)
- $386,024
- avg assets per participant
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan end-of-year assets rose from $546M in the plan year 2023 filing to $606M in the plan year 2024 filing.
- Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan reported participants rose from 1,433 in the plan year 2023 filing to 1,569 in the plan year 2024 filing.
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan vs the 2024 asset distribution
By assets, Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan outranks 98% of the 123,622 plans that filed a Form 5500 for the 2024 plan year, and holds roughly 6.1x the national average plan size of $100M (721 average participants).
Scale-class filing particulars (2024)
| Total Assets (Beginning of Year) | $546M |
|---|---|
| Net Assets (End of Year) | $606M |
| Net Income | $60M |
| Employer EIN | 410418150 |
| Plan Effective Date | 1970-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Allete, Inc.)
| 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.
Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants
- 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
Similar-Sized 401(k) Plans Nationally
401(k) plans in other states closest to Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan by total assets, not by location.
- Fortrea 401(k) Plan (NC) $606M · 4,771
- Plexus Corp. 401(k) Retirement Plan (WI) $606M · 3,233
- Electric Power Research Institute, Inc. 401(k) Plan (CA) $605M · 1,263
- Veradigm LLC. Retirement Savings Plan (NC) $605M · 1,690
Frequently Asked Questions
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Ways to act on Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan's numbers.
- By total assets, Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan ranks in the top 5% of all filed plans by assets. See the largest plans
- Compare it side-by-side against 3 similar 401(k) plans in Minnesota. Compare plans
- Allete, Inc.'s sponsor-wide assets have grown 14.1% since 2022 across 3 plan years on file. More Utilities plans