Plan Snapshot
- Plan Sponsor: Allete, INC.
- Sponsor EIN: 410418150
- Sponsor Address: 30 W SUPERIOR ST, DULUTH, MN, 55802
- Plan Type: Health & Welfare
- Plan Number: 599
- Total Participants: 1,183
- Total Assets: $178.8M
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 | 1,183 | $178.8M | $225,529 | $5.9M |
| 2023 | 1,232 | $181.5M | $6.9M | $6.4M |
| 2022 | 984 | $171.0M | $11.6M | $6.2M |
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 |
|---|---|---|---|---|
| MEDICARE BLUE R/X | Other Service Provider | $1,041,079 | — | $1,041,079 |
| UNITED HEALTHCARE SERVICES, INC. | Other Service Provider | $866,660 | — | $866,660 |
| COMPREHENSIVE CARE SERVICES | Other Service Provider | $630,371 | — | $630,371 |
| SUNLIFE INSURANCE COMPANY | Investment Advisor | $171,147 | — | $171,147 |
| DELTA DENTAL OF MN | Other Service Provider | $85,572 | — | $85,572 |
| BLUE CROSS BLUE SHIELD | Other Service Provider | $84,218 | — | $84,218 |
| LOCKTON COMPANIES LLC | Investment Advisor | $33,284 | — | $33,284 |
| REILLY, PENNER & BENTON LLP | Auditor | $33,059 | — | $33,059 |
| NORTH SHORE BANK OF COMMERCE | Custodian / Trustee | $9,822 | — | $9,822 |
| US BANK, N.A. | Custodian / Trustee | $9,391 | — | $9,391 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SUNLIFE INSURANCE COMPANY — Investment Advisor
- LOCKTON COMPANIES LLC — Investment Advisor
- 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: $2,964,603
- Estimated Expense Ratio: 1.658% 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 | $5,044,020 | — | $2,751,737 | $33,059 | — |
| 2023 | $6,555,348 | — | $4,765,211 | $37,312 | — |
| 2022 | $5,481,114 | — | — | — | $3,728,087 |