ALLETE, Inc.
80
Plan:
Minnesota Power and Affiliated Companies Retirement Savings and Stock Ownership Plan
43
77
88
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 8 point difference between this plan's BrightScope Rating (80) and the top rated plan (88) could equate to:
[How is this calculated?]
[How is this calculated?]
4 additional years of work Up to $94,200 in lost retirement savings.The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer.
Retirement Plan Description
Minnesota Power and Affiliated Companies Retirement Savings and Stock Ownership Plan is a defined contribution plan with a profit-sharing component, stock bonus component, 401k feature, ESOP component, and leveraged ESOP component. This plan has a BrightScope Rating of 80. This plan is in the top 15% of plans for Account Balances, Company Generosity, Salary Deferral, and Total Plan Cost. Minnesota Power and Affiliated Companies Retirement Savings and Stock Ownership Plan currently has over 1,800 active participants and over $374.6M in plan assets.
Retirement Plan Details
| Address |
30 West Superior Street
Duluth, MN 55802-2093 |
| Industry | Utilities |
| Administrator | Nicole Johnson |
| Sponsor | Steve Devinck |
| Net Plan Assets | $375,000,000 |
| Total Participants | 1,900 |
| Avg Account Balance | $180,000 |
Compare Other Companies in Peer Group
| The AES | 85.6 |
| STP Nuclear Operating Company | 83.1 |
| Avista | 79.6 |
| Xcel Energy | 77.4 |
| Idaho Power Company | 76.7 |
| Florida Progress | 75.9 |
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