Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › ALLETE
ALLETE 401(k)
- Utilities
- Duluth, MN
- EIN 41-0418150
- 1 plan with Schedule H financials
- Plan year 2024
- ALLETE, Inc.
- filed as Allete, Inc.
- SEC registrant Allete Inc
Total assets, end of year · Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan · plan year 2024
$605,672,357
2,312 participants with a balance. This filing reports no recordkeeping fee and no administrative expenses excluding investment management, so there is no headline cost figure.
Source
Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729111547NAL0001546291001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729111547NAL0001546291001, received 2025-07-29
Percentiles compare this plan with the Schedule H plans $250M to 1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-07-29.
Cost and contributions
Administrative expenses excluding investment management, per participant
$0.00
Fewer than 50 comparable plans report this figure; no percentile.
Source
= $0 / 2,312
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250729111547NAL0001546291001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729111547NAL0001546291001, received 2025-07-29
Administrative expenses per participant
$239.82
Higher than 93% of the 2,405 plans $250M to 1B that report it.
Source
= $554,470 / 2,312
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729111547NAL0001546291001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729111547NAL0001546291001, received 2025-07-29
Administrative expenses as a share of assets
0.092%
Higher than 62% of the 2,407 plans $250M to 1B that report it.
Source
= $554,470 / $605,672,357
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729111547NAL0001546291001, received 2025-07-29
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729111547NAL0001546291001, received 2025-07-29
Employer contributions per participant
$6,833
Higher than 85% of the 2,457 plans $250M to 1B that report it.
Source
= $15,798,010 / 2,312
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729111547NAL0001546291001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729111547NAL0001546291001, received 2025-07-29
Employer share of total contributions
43.2%
Higher than 82% of the 2,459 plans $250M to 1B that report it.
Source
= $15,798,010 / $36,547,782
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729111547NAL0001546291001, received 2025-07-29
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250729111547NAL0001546291001, received 2025-07-29
Plan terms, as stated in ALLETE, Inc.'s SEC filings
Plan terms are described in ALLETE, Inc.'s SEC filings: Form 11-K filed 2025-06-27 and Form 10-K filed 2025-02-13. No term could be quoted from them with the required precision.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2I · 2K 401(m) arrangement · 2O ESOP-related feature · 2R participant brokerage window · 2S pre-approved plan document · 2T default investment (QDIA) · 3F · 3H controlled-group sponsor · 2J 401(k) feature · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250729111547NAL0001546291001, received 2025-07-29
Full record, Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | ALLETE, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Plan name | ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Sponsor EIN / plan number | 41-0418150 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Sponsor location | DULUTH, MN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Industry (business code) | 221100, Utilities | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Filing received | 2025-07-29 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Participants, beginning of year | 2,230 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Active participants | 1,633 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Participants, end of year | 2,345 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Participants with an account balance | 2,312 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Total assets, beginning of year | $546,169,297 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Total assets, end of year | $605,672,357 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Net assets, end of year | $605,672,357 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Total income | $108,836,408 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Net income | $59,503,060 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Employer contributions | $15,798,010 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Participant contributions | $17,577,019 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Other contributions (incl. rollovers) | $3,172,753 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Total contributions | $36,547,782 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Benefit payments | $48,717,595 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Total expenses (incl. benefit payments) | $49,333,348 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Total administrative expenses | $554,470 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Contract administrator fees | $0 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Recordkeeping fees | $0 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| IQPA audit fees | $0 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Investment advisory and management fees | $589,868 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Administrative expenses excluding investment management | $0 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Held in master trusts | $0 | Schedule H, line 1c(11) col (b); INT_MASTER_TR_EOY_AMT pos 53; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Held in common/collective trusts | $181,976,405 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Held in mutual funds | $298,011,444 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250729111547NAL0001546291001, received 2025-07-29 |
| Independent auditor | REILLY PENNER & BENTON LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250729111547NAL0001546291001, received 2025-07-29 |
Position = column in the DOL layout for form year 2024. Filing 20250729111547NAL0001546291001, received 2025-07-29.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANYrecordkeeper | NONE | 64 Recordkeeping fees; 15 Recordkeeping and information management; 37 Participant loan processing; 50 Direct payment from the plan | $292,277 | yes |
| EMPOWER ADVISORY GROUP, LLC | NONE | 26 Investment advisory (participants); 50 Direct payment from the plan; 16 Consulting (general) | $205,676 | no |
| GENEVA CAPITAL MANAGMEENT, LLC | INVESTMENT MANAGEMENT | 17 Consulting (pension) | $97,408 | yes |
| TAFT STETTINIUS & HOLLISTER LLP | NONE | 29 Legal | $34,498 | no |
| REILLY PENNER & BENTON LLP | NONE | 10 Accounting (including auditing); 50 Direct payment from the plan | $25,050 | no |
| CREATIVE PLANNING LLC | NONE | 27 Investment advisory (plan) | $22,000 | no |
| QDRO CONSULTANTS COMPANY,LLC | INVESTMENT MANAGEMENT | 16 Consulting (general); 50 Direct payment from the plan | $900 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250729111547NAL0001546291001, received 2025-07-29.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $546,169,297 | $605,672,357 | 10.9% |
| Participants with a balance | 2,274 | 2,312 | 1.7% |
| Administrative expenses | $533,897 | $554,470 | 3.9% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $13,743,169 | $15,798,010 | 15.0% |
Prior filing 20240731091115NAL0048063058001, received 2024-07-31; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: ALLETE, INC.; SEC registrant: ALLETE INC (CIK 66756, matched by EIN; display name from the Form 11-K cover).