Retirement plan

WEC ENERGY GROUP EMPLOYEE RETIREMENT SAVINGS PLAN

Name: WEC ENERGY GROUP, INC. - WEC ENERGY GROUP EMPLOYEE RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: WEC ENERGY GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEC ENERGY GROUP EMPLOYEE RETIREMENT SAVINGS PLAN, WEC ENERGY GROUP, INC.

WEC ENERGY GROUP, INC.EIN 39-1391525Plan #031PY 2024

231 W. MICHIGAN STREET, P409 - MILWAUKEE, WI 53203414-221-3131wecenergygroup.comLinkedIn5001-10000 employeesutilities

Other plans on this EIN

10 filings

#049Retirement-$1.69B assets #009Retirement-$1.28B assets #002Retirement-$713.4M assets #054Retirement-$313.8M assets #055Retirement-$185.4M assets #046Retirement-$135.1M assets #052Retirement-$56.6M assets #053Retirement-$45.9M assets #056Retirement-$33.8M assets #050Retirement-$8.7M assets

Prospect flagsHigh assets / participant

Top hat statement on fileNQDC

Filed May 29, 2015 (most recent of 4 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$1977.9M

+8.7% from 2023

Total participants

5,066

+0.6% from 2023

Average account balance

$398,286

+8.0% from 2023

Annual return

17.22%

+2.53 pp from 2023

Benchmarks

See 69 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants1,000-4,999

Cohort69 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.98B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$398K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

4,966

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

97.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$75.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+17.22%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$139

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 15 · EIN 04-2647786	Recordkeeping	$355,034
STRATEGIC ADVISORS, INC.8 years Filed as: STRATEGIC ADVISORS, INC Service code 26 · EIN 04-2654524	Advisory (Participants)	$270,451
CROWE LLP1 year Filed as: CROWE, LLP Service code 10 · EIN 35-0921680	Accounting	$41,160
BAIRD FUNDS8 years Filed as: ROBERT W. BAIRD & COMPANY Service code 27 · EIN 39-6037917	Advisory (Plan)	$13,558
REINHART BOERNER VAN DEUREN S.C.8 years Filed as: REINHART, BOERNER, VANDEUREN Service code 29 · EIN 39-1126909	Legal	$8,533

Plan features & details

Pension benefit codes2E2G2J2K3H2O2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$690K

$186 / participant

Recordkeeping$270K39.1%
Investment mgmt$284K41.2%
Legal$9K1.3%
Contract admin$86K12.5%
Other / not subdivided$41K5.9%

% of EOY assets

0.035%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CROWE, LLP
Auditor EIN: 350921680
Audit fees: $41,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$398,286

$191,300+108.2%

$103,486+284.9%

$199,960+99.2%

Participation rate

97.3%

93.4%+3.9pp

80.5%+16.8pp

72.0%+25.3pp

Annual return

17.22%

15.75%+1.5pp

23.93%-6.7pp

34.28%-17.1pp

Employer contribution / active EE

$6,969

$6,666+4.5%

$4,679+48.9%

$3,036+129.6%

Participant deferral / active EE

$13,250

$10,452+26.8%

$6,628+99.9%

$5,087+160.5%

Admin fee / account holder

$139

$115+20.8%

$9,354-98.5%

$269-48.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 15 · EIN 04-2647786

Recordkeeping

$355,034

STRATEGIC ADVISORS, INC.8 years

Filed as: STRATEGIC ADVISORS, INC

Service code 26 · EIN 04-2654524

Advisory (Participants)

$270,451

CROWE LLP1 year

Filed as: CROWE, LLP

Service code 10 · EIN 35-0921680

Accounting

$41,160

BAIRD FUNDS8 years

Filed as: ROBERT W. BAIRD & COMPANY

Service code 27 · EIN 39-6037917

Advisory (Plan)

$13,558

REINHART BOERNER VAN DEUREN S.C.8 years

Filed as: REINHART, BOERNER, VANDEUREN

Service code 29 · EIN 39-1126909

Legal

$8,533

WEC ENERGY GROUP EMPLOYEE RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEC ENERGY GROUP EMPLOYEE RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion