Allete 401(k) and pension plans

Allete, Inc., Duluth, MN. EIN 41-0418150. Annual reports 2009–2024. Also filed as Minnesota Power & Light Company; Minnesota Power & Affiliated Companies; Allete & Affiliated Companies; Minnesota Power and Affiliated Companies.

Allete, Inc. has 3 active retirement plans on file. The largest is the Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan, with 2,345 participants and $606 million in assets in 2024. Empower has been its recordkeeper since 2018.

Active plans: 3
Participants: 4,570
Plan assets: $1.2 billion
401(k) recordkeeper: Empower
Plans on file: 4
Industry: Utilities

All 4 plans

Active plans first

Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan

401(k) with ESOPActive

Active. The plan filed its annual report for the 2024 plan year.

Plan number: 002Employer EIN 41-0418150
Participants (2024): 2,345
Net assets (2024): $606 million
Recordkeeper: EmpowerEarlier: Wells Fargo (2010–2017), Wachovia Bank (2009)
Plan administrator: Allete, Inc.
30 West Superior Street
Duluth, MN 55802
(218) 723-7554As filed for 2024
In effect since: January 1, 1970

Earlier plan names: Minnesota Power and Affiliated Companies Retirement Savings & Stock Ownership Plan.

Year by year, 2009 to 2024

Plan year	Participants	Net assets	Recordkeeper
2024	2,345	$606 million	Empower
2023	2,294	$546 million	Empower
2022	2,129	$484 million	Empower
2021	2,079	$565 million	Empower
2020	2,061	$505 million	Empower
2019	2,170	$493 million	Empower
2018	2,741	$485 million	Empower
2017	2,550	$491 million	Wells Fargo
2016	2,671	$430 million	Wells Fargo
2015	2,033	$377 million	Wells Fargo
2014	2,109	$416 million	Wells Fargo
2013	2,027	$405 million	Wells Fargo
2012	2,004	$351 million	Wells Fargo
2011	1,934	$339 million	Wells Fargo
2010	1,853	$338 million	Wells Fargo
2009	1,861	$295 million	Wachovia Bank

Allete & Affiliated Companies Retirement Plan C

Pension (defined benefit)Active

Active. The plan filed its annual report for the 2024 plan year.

Plan number: 005Employer EIN 41-0418150
Participants (2024): 1,700
Net assets (2024): $422 million
Administered by: Tellus HealthEarlier: Lifeworks (2021–2022), Morneau Shepell (2019–2020)
Plan administrator: Allete, Inc. & Affiliated Companies
30 W Superior ST
Duluth, MN 55802
(218) 722-2641As filed for 2024
In effect since: January 1, 2016

Plans merged into this one: Allete & Affiliated Companies Retirement Plan a (2018).

Earlier sponsor: Allete & Affiliated Companies (2016–2022).

Year by year, 2016 to 2024

Plan year	Participants	Net assets	Recordkeeper
2024	1,700	$422 million	Tellus Health
2023	1,742	$426 million	Tellus Health
2022	1,767	$427 million	Lifeworks
2021	1,852	$564 million	Lifeworks
2020	1,852	$590 million	Morneau Shepell
2019	1,895	$557 million	Morneau Shepell
2018	1,939	$488 million	not listed
2017	1,648	$491 million	not listed
2016	1,778	$461 million	not listed

Allete and Affiliated Companies Retirement Plan B

Pension (defined benefit)Active

Active. The plan filed its annual report for the 2024 plan year.

Plan number: 003Employer EIN 41-0418150
Participants (2024): 525
Net assets (2024): $188 million
Administered by: Tellus HealthEarlier: Lifeworks (2021), Morneau Shepell (2012–2020), SBC Systems (2009–2011)
Plan administrator: Allete, Inc. & Affiliated Companies
30 W Superior ST
Duluth, MN 55802
(218) 722-2641As filed for 2024
In effect since: December 1, 1952

Earlier sponsors: Minnesota Power & Light Company (2009); Minnesota Power and Affiliated Companies (2010); Allete and Affiliated Companies (2011–2022).

Earlier plan names: Minnesota Power and Affiliated Companies Retirement Plan B.

Year by year, 2009 to 2024

Plan year	Participants	Net assets	Recordkeeper
2024	525	$188 million	Tellus Health
2023	530	$176 million	Tellus Health
2022	534	$154 million	not listed
2021	532	$182 million	Lifeworks
2020	523	$179 million	Morneau Shepell
2019	521	$152 million	Morneau Shepell
2018	517	$110 million	Morneau Shepell
2017	506	$112 million	Morneau Shepell
2016	508	$80.8 million	Morneau Shepell
2015	1,190	$259 million	Morneau Shepell
2014	1,185	$270 million	Morneau Shepell
2013	1,196	$260 million	Morneau Shepell
2012	1,206	$223 million	Morneau Shepell
2011	1,236	$207 million	SBC Systems
2010	1,240	$186 million	SBC Systems
2009	1,243	$148 million	SBC Systems

Allete & Affiliated Companies Retirement Plan a

Pension (defined benefit)Merged

Merged. In 2018 its assets moved to the Allete & Affiliated Companies Retirement Plan C, sponsored by Allete, Inc. (EIN 41-0418150, plan 005). Accounts moved with them, so that plan is the one to contact.

Plan number: 001Employer EIN 41-0418150
Participants (2017): 317
Net assets (2017): $41.1 million
Administered by: Morneau ShepellEarlier: SBC Systems (2009–2011)
Plan administrator: Allete & Affiliated Companies
30 West Superior Street
Duluth, MN 55802
(218) 722-2641As filed for 2018
In effect since: December 1, 1952

Earlier sponsors: Minnesota Power & Light Company (2009); Minnesota Power & Affiliated Companies (2010).

Earlier plan names: Minnesota Power & Affiliated Companies Retirement Plan a.

Year by year, 2009 to 2018

Plan year	Participants	Net assets	Recordkeeper
2018	0	n/a	Morneau Shepell
2017	317	$41.1 million	Morneau Shepell
2016	318	$28.6 million	Morneau Shepell
2015	1,513	$268 million	Morneau Shepell
2014	1,521	$275 million	Morneau Shepell
2013	1,531	$261 million	Morneau Shepell
2012	1,564	$233 million	Morneau Shepell
2011	1,599	$224 million	SBC Systems
2010	1,597	$206 million	SBC Systems
2009	1,617	$181 million	SBC Systems

If you had money in one of these plans

Call Empower (empower.com), which runs the Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan. With your Social Security number and the plan name, it can tell you whether you still have a balance and, if not, where it went.
Or call the plan administrator listed on the plan below ((218) 723-7554). That number was filed for 2024; ask for the benefits or retirement plan office.
If your plan was merged, your account moved with it. Follow the link on the plan to the plan it went into, and contact that one.
Still stuck? The Department of Labor's benefits advisers help for free: askebsa.dol.gov or 1-866-444-3272. Never pay anyone to find your own money.

What these numbers are

They come from the Form 5500 annual reports each plan files with the Department of Labor, as the plan filed them. A plan year is usually a calendar year.
Participants counts everyone in the plan at year end: current employees, former employees who still have a balance or a pension coming, and retirees or beneficiaries being paid.
The recordkeeper is the service provider whose Schedule C entry says it keeps the plan's records. Small plans do not file Schedule C, so some plans show none.
We cannot see anyone's account. Only the plan or its recordkeeper can tell you your balance.

Sources: U.S. Department of Labor, Form 5500 datasets and PBGC trusteed plans. How we read them.

All 4 plans

Allete and Affiliated Companies Retirement Savings and Stock Ownership Plan

Allete & Affiliated Companies Retirement Plan C

Allete and Affiliated Companies Retirement Plan B

Allete & Affiliated Companies Retirement Plan a

If you had money in one of these plans

What these numbers are

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