Wisconsin › Utilities › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Wec Energy Group Retirement Plan for Wec Business Services
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.
Wec Energy Group, Inc. of Milwaukee, Wisconsin sponsors Wec Energy Group Retirement Plan for Wec Business Services, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2025 shows 571 participants (274 active) and $190M in net assets.
Net assets came to $314,242 per participant in plan year 2024, well above the $86,583 median for defined benefit plans with 500 to 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 $193K: $339 per participant, below the same-size median of $377. Administrative expenses charged to the plan were $268K. 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 $251M in 2017 to $190M in 2025 (down 24%), and participants from 856 to 571 (down 33%).
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 | $314,242 | $86,583 | $187,668 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $12,900 | $10,244 |
| Schedule C compensation per participant | $330 | $377 | $468 | $344 |
| Schedule C compensation, share of net assets | 0.10% | 0.48% | 0.27% | 0.42% |
| Administrative expenses per participant | $456 | $591 | $804 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 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 | 571 | $190M | $332,970 | — | — | $193K |
| 2024 | 590 | $185M | $314,242 | — | — | $194K |
| 2023 | 621 | $191M | $307,971 | — | — | $191K |
| 2022 | 655 | $188M | $287,766 | — | — | $199K |
| 2021 | 694 | $250M | $360,176 | — | — | $203K |
| 2020 | 721 | $241M | $334,233 | — | — | $226K |
| 2019 | 754 | $232M | $308,353 | — | — | $422K |
| 2018 | 812 | $212M | $260,756 | — | — | $373K |
| 2017 | 856 | $251M | $292,703 | $24.0M | — | $250K |
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$185,403,000
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$17,272,000
- Benefits paid$12,281,000
- Administrative expenses$268,000
- Total expenses$12,549,000
- Net income$4,723,000
- Net transfers$0
- Net assets, end of year$190,126,000
Participants
- Active participants274
- Retired or separated, receiving benefits158
- Retired or separated, entitled to future benefits131
- Total participants, end of year571
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson US LLC | Actuarial; Consulting (pension); Other services | $91,474 | $0 |
| Fidelity Investments Institutional | Plan Administrator; Recordkeeping and information management; Consulting (pension); Participant communication; Other services | $72,751 | $0 |
| CliftonLarsonAllen LLP | Accounting (including auditing) | $29,235 | $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
- Actuarial fees$92,000
- Contract administrator fees$73,000
- Other administrative expenses$63,000
- IQPA audit fees$29,000
- Salaries and allowances$11,000
- Total administrative expenses$268,000
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$190M · 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 group1IFrozen plan
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 |
|---|---|---|---|---|
| Madison Gas and Electric Company Retirement Plan | Madison Gas and Electric Company | 591 | $279M | $472,162 |
| Madison Gas and Electric Company Retirement Plan for Bargaining Employees | Madison Gas and Electric Company | 444 | $182M | $410,608 |
| Wec Energy Group Retirement Plan for PGL and NSG | Wec Energy Group, Inc. | 1,017 | $300M | $295,235 |
| Wec Energy Group Retirement Plan for Michigan Gas Utilities Corporation | Wec Energy Group, Inc. | 351 | $58.2M | $165,672 |
| Wec Energy Group Legacy Retirement Account Plan | Wec Energy Group, Inc. | 1,236 | $139M | $112,269 |
| Wec Energy Group Retirement Plan for Minnesota Energy Resources Corporation | Wec Energy Group, Inc. | 303 | $46.8M | $154,396 |
Defined benefit plans in utilities closest in size.
Questions and answers
How big is Wec Energy Group Retirement Plan for Wec Business Services?
571 participants at the end of the plan year ending 31 Dec 2025, of whom 274 were active employees, with net assets of $190,126,000. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 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 $193,460 in compensation to service provider organisations, $339 per participant or 0.10% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $268,000. 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 055, 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.