Plan Snapshot
- Plan Sponsor: Allete, INC. & Affiliated Companies
- Sponsor EIN: 410418150
- Sponsor Address: 30 W SUPERIOR ST, DULUTH, MN, 558022030
- Plan Type: DB
- Total Participants: 276
- Total Assets: $188.0M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 276 | $188.0M | $11.4M | $0 |
| 2023 | 292 | $175.9M | $10.3M | $0 |
| 2022 | 319 | $154.3M | $12.3M | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| REILLY, PENNER & BENTON LLP | Auditor | $10,825 | — | $10,825 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- REILLY, PENNER & BENTON LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $10,825
- Estimated Expense Ratio: 0.006% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $865,086 | $276,432 | $58,409 | $10,825 | — |
| 2023 | $619,926 | $74,758 | $57,056 | $10,275 | — |
| 2022 | $535,624 | $14,540 | $52,113 | — | $104,019 |