Allete, Inc.401(k) + ESOP (KSOP)
ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN · DULUTH, MN · plan year 2024
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Allete, Inc. reported $554,470 in plan administrative expenses for 2024: 0.10% of average plan assets, above the peer median. Employer contributions averaged $9,674 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 3 years on file its reported administrative ratio has held roughly steady near 0.10%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other utilities employers. By assets it is the 73rd-largest of 1,918 plans among Minnesota employers on file, and the 61st of 412 in utilities. In 2024, employees put in $1.11 for every $1.00 the employer contributed; active participation has grown from 1,432 to 1,633 since 2022.
Allete, Inc.'s 2024 employer contribution ran above the $4,294 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 410418150 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.