Retirement plan

THE MICHAELS ORGANIZATION 401(K) PLAN

Name: THE MICHAELS ORGANIZATION, LLC - THE MICHAELS ORGANIZATION 401(K) PLAN (2020) Form 5500
Creator: THE MICHAELS ORGANIZATION, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MICHAELS ORGANIZATION 401(K) PLAN, THE MICHAELS ORGANIZATION, LLC

THE MICHAELS ORGANIZATION, LLCEIN 47-4070382Plan #001PY 2020

2 COOPER STREET, 12TH FLOOR, P.O. BOX 90708 - CAMDEN, NJ 08101856-596-0500tmo.comLinkedIn1001-5000 employeesreal estate

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$66M

+21.1% from 2019

Total participants

2,552

+28.6% from 2019

Average account balance

$53,602

+13.0% from 2019

Annual return

17.90%

-1.98 pp from 2019

Benchmarks

See 108 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants1,000-4,999

Cohort108 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$100.23M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$34K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

2,936

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

76.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.04%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$97

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 5 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS, LLC Service code 55	Other Commissions	$82,821
ESTATE & PENSION ADVISORY BOARD2+ years Service code 13 · EIN 27-0475956 CHERRY HILL PLAZA, SUITE 601 · CHERRY HILL, NJ 08034	Contract Administrator	$24,430
BDO USA, LLP2+ years Service code 10 · EIN 13-5381590 P.O. BOX 642743 · PITTSBURGH, PA 15264	Accounting	$18,000
GREAT-WEST LIFE & ANNUITY INSURANCE2+ years Filed as: GREAT WEST LIFE & ANNUITY COMPANY Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$15,950
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS LLC Service code 55 · EIN 04-1347393 401 S TYRON, 11TH FLOOR, D1050-111 · CHARLOTTE, NC 28081	Other Commissions	$0

Plan features & details

Pension benefit codes2E2G2J2K2R3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$48K

$20 / participant

Other / not subdivided$48K100.0%

% of EOY assets

0.073%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,602

$48,592+10.3%

$185,835-71.2%

$90,274-40.6%

Participation rate

45.7%

66.2%-20.6pp

78.0%-32.4pp

73.4%-27.7pp

Annual return

17.90%

68.51%-50.6pp

35.96%-18.1pp

53.97%-36.1pp

Employer contribution / active EE

$978

$1,389-29.6%

$4,087-76.1%

$2,523-61.2%

Participant deferral / active EE

$1,714

$3,463-50.5%

$5,633-69.6%

$4,231-59.5%

Admin fee / account holder

$39

$77-49.3%

$9,502-99.6%

$114-65.5%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.2+ years

Filed as: WELLS FARGO ADVISORS, LLC

Service code 55

Other Commissions

$82,821

ESTATE & PENSION ADVISORY BOARD2+ years

Service code 13 · EIN 27-0475956

CHERRY HILL PLAZA, SUITE 601 · CHERRY HILL, NJ 08034

Contract Administrator

$24,430

BDO USA, LLP2+ years

Service code 10 · EIN 13-5381590

P.O. BOX 642743 · PITTSBURGH, PA 15264

Accounting

$18,000

GREAT-WEST LIFE & ANNUITY INSURANCE2+ years

Filed as: GREAT WEST LIFE & ANNUITY COMPANY

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$15,950

WELLS FARGO BANK, N.A.2+ years

Filed as: WELLS FARGO ADVISORS LLC

Service code 55 · EIN 04-1347393

401 S TYRON, 11TH FLOOR, D1050-111 · CHARLOTTE, NC 28081

Other Commissions

THE MICHAELS ORGANIZATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MICHAELS ORGANIZATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion