Defined Benefit (Pension) · DOL Form 5500 · 2024
Allete, Inc. & Affiliated Companies Pension Plan
Data updated 2026-08-11
- $188M
- Total assets
- 292
- Participants
- 94th
- Percentile by assets
- $643,999
- Avg per participant
Official DOL plan name: Allete and Affiliated Companies Retirement Plan B · Sponsored by Allete, Inc. & Affiliated Companies · Minnesota · Utilities
$188M in assets, 292 participants
Allete, Inc. & Affiliated Companies's Allete and Affiliated Companies Retirement Plan B reported $188M in total assets and 292 participants in its 2024 DOL Form 5500 filing, ranking in the 94th 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.
- 94th percentile by assets (of 123,622 plans)
- #506 in Utilities (732 peers)
Coverage in Minnesota
Allete and Affiliated Companies Retirement Plan B covers 292 participants in Minnesota, about 26% of the average Minnesota filer (state average ~1,126 per filing). Assets: $188M.
- $188M
- total plan assets (2024 EOY)
- 292
- covered participants
- 94th
- percentile by assets (of 123,622 plans)
- $643,999
- avg assets per participant
The plan reported a net loss of $24M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Allete and Affiliated Companies Retirement Plan B reported net income fell from $17M in the plan year 2023 filing to -$24M in the plan year 2024 filing.
- Allete and Affiliated Companies Retirement Plan B reported participants fell from 319 in the plan year 2023 filing to 292 in the plan year 2024 filing.
- Allete and Affiliated Companies Retirement Plan B end-of-year assets rose from $176M in the plan year 2023 filing to $188M in the plan year 2024 filing.
Participants vs Minnesota filers
In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Allete and Affiliated Companies Retirement Plan B reports 292 participants - about 26% of that state average ($188M EOY assets).
Minnesota filing particulars
| Total Assets (Beginning of Year) | $176M |
|---|---|
| Net Assets (End of Year) | $188M |
| Net Income | -$24M |
| Employer EIN | 410418150 |
| Plan Effective Date | 1952-12-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Allete, Inc. & Affiliated Companies)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 1,910 | $1.1B |
| 2023 | 3 | 1,923 | $1.1B |
| 2024 | 3 | 2,021 | $1.2B |
Nearby Defined Benefit (Pension) Plans in Minnesota
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
Allete and Affiliated Companies Retirement Plan B vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
- Mayo Pension Plan $11.8B · 71,743
- 3M Employee Retirement Income Plan $8.9B · 9,132
- Wells Fargo & Company Cash Balance Plan $8.3B · 46,875
- U.S. Bank Pension Plan $4.4B · 62,822
- The Travelers Pension Plan $4.2B · 27,237
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Allete and Affiliated Companies Retirement Plan B by total assets, not by location.
- Southern Ironworkers Pension Fund (PA) $188M · 874
- Pension Plan for Employees of Mount Nittany Medical Center (PA) $188M · 1,104
- Amerihealth Caritas Pension Plan (PA) $188M · 1,335
- B.a.C. Local No. 3 Pension Plan (CA) $188M · 847
Frequently Asked Questions
How did Allete and Affiliated Companies Retirement Plan B assets move in 2024? ▼
How have Allete, Inc. & Affiliated Companies plan assets changed over time? ▼
Where does Allete and Affiliated Companies Retirement Plan B rank by assets among Form 5500 filers? ▼
Which Defined Benefit (Pension) plans are similar in size to Allete and Affiliated Companies Retirement Plan B? ▼
Next read for Allete and Affiliated Companies Retireme…
Filing takeaways
Ways to act on Allete and Affiliated Companies Retirement Plan B's numbers.
- By total assets, Allete and Affiliated Companies Retirement Plan B ranks in the top 10% of all filed plans by assets. See the largest plans
- Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in Minnesota. Compare plans
- Allete, Inc. & Affiliated Companies's sponsor-wide assets have grown 14.1% since 2022 across 3 plan years on file. More Utilities plans