Retirement plan

ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN

Name: ALLETE, INC. - ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN (2018) Form 5500
Creator: ALLETE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN, ALLETE, INC.

ALLETE, INC.EIN 41-0418150Plan #002PY 2018

30 WEST SUPERIOR STREET - DULUTH, MN 55802218-723-7554allete.comLinkedIn1001-5000 employeesutilities

Other plans on this EIN

3 filings

#005Retirement-$487.8M assets #003Retirement-$110.1M assets #001Retirement--

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed April 29, 2009 (most recent of 2 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)

$485.3M

-1.2% from 2017

Total participants

2,741

+7.5% from 2017

Average account balance

$183,187

-10.5% from 2017

Annual return

6.17%

-11.16 pp from 2017

Benchmarks

See 69 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants1,000-4,999

Cohort69 peers

Snapshot2018

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$605.67M

Not enough data

1 years with asset history on file

Average account balance

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

$262K

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.

2,312

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.

98.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$33.38M

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

+13.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$240

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393 600 S HWY 169 12TH FLR · ST LOUIS PARK, MN 55426	Recordkeeping	$292,328
RIDGEWORTH1 year Filed as: GENEVA CAPITAL MANAGEMENT Service code 17 · EIN 06-1217855	Pension Consulting	$104,657
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INS CO Service code 15 8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping	$30,175
BRIGGS AND MORGAN2 years Service code 17 · EIN 41-0954702	Pension Consulting	$29,080
MERCER4+ years Filed as: MERCER INVESTMENT CONSULTING, INC. Service code 17 · EIN 61-0736136	Pension Consulting	$16,500
REILLY, PENNER & BENTON LLP1 year Service code 17 · EIN 39-0747409	Pension Consulting	$14,200
BRIGGS AND MORGAN1 year Filed as: BRIGGS AND MORGAN PA Service code 29 PO BOX 64591 · ST PAUL, MN 551640591	Legal	$2,523

Plan features & details

Pension benefit codes2E2F2I2J2K2O2R2S2T3F3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2I
Stock bonus
Stock bonus plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$358K

$193 / participant

Other / not subdivided$358K100.0%

% of EOY assets

0.074%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: REILLY, PENNER AND BENTON
Auditor EIN: 390747409
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$183,187

$144,389+26.9%

$90,782+101.8%

$75,289+143.3%

Participation rate

95.0%

92.2%+2.8pp

82.7%+12.4pp

72.4%+22.6pp

Annual return

6.17%

0.91%+5.3pp

-3.42%+9.6pp

-0.04%+6.2pp

Employer contribution / active EE

$6,160

$4,529+36.0%

$4,105+50.1%

$2,405+156.1%

Participant deferral / active EE

$8,037

$7,882+2.0%

$5,366+49.8%

$3,739+115.0%

Admin fee / account holder

$135

$102+32.1%

$5,908-97.7%

$102+32.2%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.4+ years

Service code 15 · EIN 94-1347393

600 S HWY 169 12TH FLR · ST LOUIS PARK, MN 55426

Recordkeeping

$292,328

RIDGEWORTH1 year

Filed as: GENEVA CAPITAL MANAGEMENT

Service code 17 · EIN 06-1217855

Pension Consulting

$104,657

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INS CO

Service code 15

8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping

$30,175

BRIGGS AND MORGAN2 years

Service code 17 · EIN 41-0954702

Pension Consulting

$29,080

MERCER4+ years

Filed as: MERCER INVESTMENT CONSULTING, INC.

Service code 17 · EIN 61-0736136

Pension Consulting

$16,500

REILLY, PENNER & BENTON LLP1 year

Service code 17 · EIN 39-0747409

Pension Consulting

$14,200

BRIGGS AND MORGAN1 year

Filed as: BRIGGS AND MORGAN PA

Service code 29

PO BOX 64591 · ST PAUL, MN 551640591

Legal

$2,523

ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP 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