# Allete, INC. Health & Welfare Plan
Source: https://planprovider.pro/companies/allete-inc-410418150-599

> Allete, INC.'s Health & Welfare plan: 1,183 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/marsh-mclennan-agency) — Investment Advisor

- [LOCKTON COMPANIES LLC](https://planprovider.pro/provider/creative-planning) — Investment Advisor

- [REILLY, PENNER & BENTON LLP](https://planprovider.pro/provider/reilly-penner-and-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|

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