Wisconsin › Utilities › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Wec Energy Group Retirement Plan for PGL and NSG
Sponsored by Wec Energy Group, Inc., Milwaukee, WI
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2025, Wec Energy Group Retirement Plan for PGL and NSG covered 1,017 participants and held $300M in net assets. The plan is a cash balance pension plan sponsored by Wec Energy Group, Inc. of Milwaukee, Wisconsin.
Net assets came to $286,584 per participant in plan year 2024, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $187,668 median for defined benefit plans in utilities. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $322K: $316 per participant, close to the same-size median of $325. Administrative expenses charged to the plan were $480K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $350M in 2017 to $300M in 2025 (down 14%), and participants from 1,848 to 1,017 (down 45%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $286,584 | $87,935 | $187,668 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $12,900 | $10,244 |
| Schedule C compensation per participant | $339 | $325 | $468 | $344 |
| Schedule C compensation, share of net assets | 0.12% | 0.41% | 0.27% | 0.42% |
| Administrative expenses per participant | $477 | $513 | $804 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), utilities (175) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 1,017 | $300M | $295,235 | — | — | $322K |
| 2024 | 1,095 | $314M | $286,584 | — | — | $371K |
| 2023 | 1,168 | $327M | $279,645 | — | — | $357K |
| 2022 | 1,244 | $320M | $257,457 | — | — | $370K |
| 2021 | 1,380 | $495M | $358,435 | $50.0M | — | $383K |
| 2020 | 1,486 | $467M | $314,578 | $100M | — | $409K |
| 2019 | 1,614 | $394M | $243,809 | $50.0M | — | $422K |
| 2018 | 1,728 | $339M | $196,168 | $60.0M | — | $560K |
| 2017 | 1,848 | $350M | $189,472 | — | — | $468K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$313,809,000
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$28,150,000
- Benefits paid$41,225,000
- Administrative expenses$480,000
- Total expenses$41,705,000
- Net income−$13,555,000
- Net transfers$0
- Net assets, end of year$300,254,000
Participants
- Active participants330
- Retired or separated, receiving benefits242
- Retired or separated, entitled to future benefits313
- Total participants, end of year1,017
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fidelity Investments Institutional | Plan Administrator; Recordkeeping and information management; Consulting (pension); Participant communication; Other services | $164,533 | $0 |
| Willis Towers Watson US LLC | Actuarial; Consulting (pension); Other services | $132,896 | $0 |
| CliftonLarsonAllen LLP | Accounting (including auditing) | $24,201 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$165,000
- Actuarial fees$133,000
- Other administrative expenses$116,000
- Salaries and allowances$41,000
- IQPA audit fees$24,000
- Legal fees$1,000
- Total administrative expenses$480,000
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Master trust investment accounts$300M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCliftonLarsonAllen LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $25,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1CCash balance or similar plan1ECode section 401(h) arrangement3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 221100: Electric Power Generation, Transmission & Distribution.
Other plans of Wec Energy Group, Inc.
Similar plans in Wisconsin
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Wec Energy Group Legacy Retirement Account Plan | Wec Energy Group, Inc. | 1,236 | $139M | $112,269 |
| Madison Gas and Electric Company Retirement Plan | Madison Gas and Electric Company | 591 | $279M | $472,162 |
| Ipl Retirement Plan for Bargaining Unit Ees | Interstate Power and Light Company | 1,454 | $266M | $182,763 |
| Wec Energy Group Retirement Plan for Wec Business Services | Wec Energy Group, Inc. | 571 | $190M | $332,970 |
| Wisconsin Power & Light Co. Retirement Plan B | Wisconsin Power & Light Company | 1,531 | $248M | $161,896 |
| Madison Gas and Electric Company Retirement Plan for Bargaining Employees | Madison Gas and Electric Company | 444 | $182M | $410,608 |
Defined benefit plans in utilities closest in size.
Questions and answers
How big is Wec Energy Group Retirement Plan for PGL and NSG?
1,017 participants at the end of the plan year ending 31 Dec 2025, of whom 330 were active employees, with net assets of $300,254,000. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Wec Energy Group, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $321,630 in compensation to service provider organisations, $316 per participant or 0.11% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $480,000. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Wec Energy Group, Inc.. Recordkeeping or administration: Fidelity Investments Institutional. The financial statements were audited by CliftonLarsonAllen LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 4 Aug 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 39-1391525, plan 054, received 4 Aug 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.