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Original filing (PDF)20250729111547NAL0001546291001
ALLETE, INC.
Form 5500
FILING_RECEIVED
ALLETE AND AFFILIATED COMPANIES RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN
401(k) retirement plan
Signals · 2
No recordkeeper disclosed7 service providers
Active participants
1,633
Accounts w/ balance
2,312
Plan assets (EOY)
$605.7M
Net assets (EOY)
$605.7M
How this plan invests
This plan
12 pooled trusts
Schedule D
30 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
89
/ 100
Grade A
Top-tier plan health
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
100
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
- 11 bps in Schedule C fees — 87% above peer band of 6 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for ALLETE, INC..
Plan sponsor
Name
ALLETE, INC.
EIN
41-0418150
Address
30 WEST SUPERIOR STREET · DULUTH, MN · 55802
Phone
(218) 723-7554
Industry
Utilitiessee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
002
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-07-29
Pension benefit codes
2E · Profit-sharing
2F · ERISA section 404(c)
2I · Stock bonus
2K · 401(m) arrangement
2O · ESOP (non-leveraged)
2R · Participant-directed brokerage (SDBA)
2S · Automatic enrollment
2T · Default investment account (QDIA)
3F · Sponsor used leased employees
3H · Sponsor in controlled / affiliated group
2J · 401(k) feature
Audit & trust (Schedule H)
Auditor
REILLY PENNER & BENTON LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
7 rowsAdvisor / Consultant
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| GENEVA CAPITAL MANAGMEENT, LLC | 39-1567956 | — | INVESTMENT MANAGEMENT | $97K | — |
| QDRO CONSULTANTS COMPANY,LLC | 34-1820650 | — | INVESTMENT MANAGEMENT | $900 | — |
Other
5| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | 84-0467907 | — | NONE | $292K | — |
| EMPOWER ADVISORY GROUP, LLC | 84-1532243 | — | NONE | $206K | — |
| TAFT STETTINIUS & HOLLISTER LLP | 13-2834414 | — | NONE | $34K | — |
| REILLY PENNER & BENTON LLP | 39-0747409 | — | NONE | $25K | — |
| CREATIVE PLANNING LLC | — | OVERLAND PARK, KS | NONE | $22K | — |
Investments
19 direct securities · 12 pooled funds· $602.7M(100% of reported assets)
Rows tagged as a trust or pooled fund hold many underlying securities. Click one to drill into its own Schedule of Assets — where the individual funds, shares, and CUSIPs live.
Uncategorized
$412.2M
19 holdings
Common Collective Trust
$182.0M
11 holdings
Pooled Separate Account
$8.5M
1 holding
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| FIDELITY 500 INDEX | — | — | — | $100.6M | 16.6% | |
| ALLETE, Inc. | — | — | — | $68.7M | 11.3% | |
| FIDELITY MID CAP INDEX | — | — | — | $37.4M | 6.2% | |
| VANGUARD FEDERAL MONEY MARKET INV | — | — | — | $32.5M | 5.4% | |
| LIFEPATH INDEX 2045-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $30.1M | 5.0% | |
| LIFEPATH INDEX 2035-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $27.9M | 4.6% | |
| LIFEPATH INDEX 2050-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $26.9M | 4.4% | |
| LIFEPATH INDEX 2040-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $26.8M | 4.4% | |
| DODGE & COX STOCK FUND CLASS X | — | — | — | $26.5M | 4.4% | |
| FIDELITY US BOND INDEX | — | — | — | $24.3M | 4.0% | |
| ALLETE, Inc. | — | — | — | $21.2M | 3.5% | |
| FIDELITY CONTRAFUND | — | — | — | $19.4M | 3.2% | |
| BLACKROCK MSCI ACWI EX-U.S. INDEX R | — | — | — | $17.8M | 2.9% | |
| Self-Directed Brokerage Accounts | — | — | — | $17.7M | 2.9% | |
| LIFEPATH INDEX RETIREMENT-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $17.7M | 2.9% | |
| LIFEPATH INDEX 2030-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $15.9M | 2.6% | |
| MFS INTERNATIONAL DIVERSIFICATION R3 | — | — | — | $14.9M | 2.5% | |
| LIFEPATH INDEX 2055-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $13.4M | 2.2% | |
| HENDERSON GENEVA SMALL CAP GROWTH S SMALL CAP GROWTH · EIN 94-3227220 / PN 001 | Common Collective Trust | — | — | $12.6M | 2.1% | |
| FIDELITY SMALL CAP INDEX | — | — | — | $11.1M | 1.8% | |
| AMERICAN SMALL CAP VALUE EMPOWER ANNUITY INSURANC COMPANY · EIN 06-1050034 / PN 850 | Pooled Separate Account | — | — | $8.5M | 1.4% | |
| FIDELITY EMERGING MARKETS K | — | — | — | $8.4M | 1.4% | |
| LIFEPATH INDEX 2060-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $8.3M | 1.4% | |
| Participant Loans | — | — | — | $5.6M | 0.9% | |
| VANGUARD INFLATION-PROTECTED SECS ADM | — | — | — | $3.5M | 0.6% | |
| LIFEPATH INDEX 2065 L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $2.5M | 0.4% | |
| PIMCO INCOME INSTL | — | — | — | $1.0M | 0.2% | |
| Dreyfus U.S. Government Cash Management Inst Shares | — | — | — | $867K | 0.1% | |
| JHANCOCK BOND R6 | — | — | — | $577K | <0.1% | |
| Dreyfus U.S. Government Cash Management Inst Shares | — | — | — | $81K | <0.1% | |
| LIFEPATH INDEX 2025-L BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. · EIN 85-3817417 / PN 001 | Common Collective Trust | — | — | $0 | <0.1% |