Retirement plan

THE MICHAELS ORGANIZATION 401(K) PLAN

Name: THE MICHAELS ORGANIZATION, LLC - THE MICHAELS ORGANIZATION 401(K) PLAN (2022) 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 2022

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

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$69.4M

-10.7% from 2021

Total participants

2,464

-10.0% from 2021

Average account balance

$29,558

-49.9% from 2021

Annual return

-14.44%

-30.06 pp from 2021

Benchmarks

See 128 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants1,000-4,999

Cohort128 peers

Snapshot2022

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.4+ years Filed as: WELLS FARGO ADVISORS LLC Service code 27 · EIN 04-1347393 401 S TYRON, 11TH FLOOR, D1050-111 · CHARLOTTE, NC 28081	Advisory (Plan)	$60,206
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 4815 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$59,699
ESTATE & PENSION ADVISORY BOARD4+ years Service code 13 · EIN 27-0475956 CHERRY HILL PLAZA, SUITE 601 · CHERRY HILL, NJ 08034	Contract Administrator	$59,600
BDO USA, LLP4+ years Service code 10 · EIN 13-5381590 5300 PATTERSON AVE, STE 100 · GRAND RAPIDS, MI 49512	Accounting	$34,000
WELLS FARGO BANK, N.A.4+ years Filed as: WELLS FARGO ADVISORS, LLC Service code 55	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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$301K

$141 / participant

Investment mgmt$60K20.0%
Contract admin$146K48.6%
Other / not subdivided$95K31.5%

% of EOY assets

0.435%

all-in expense ratio

Categories reported

2 / 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 P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,558

$42,504-30.5%

$159,991-81.5%

$77,906-62.1%

Participation rate

94.5%

66.9%+27.6pp

78.0%+16.6pp

73.7%+20.8pp

Annual return

-14.44%

-12.43%-2.0pp

408.82%-423.3pp

12.16%-26.6pp

Employer contribution / active EE

$1,857

$1,684+10.3%

$4,225-56.0%

$2,846-34.8%

Participant deferral / active EE

$2,955

$3,919-24.6%

$6,183-52.2%

$4,805-38.5%

Admin fee / account holder

$128

$98+31.7%

$8,715-98.5%

$133-3.1%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.4+ years

Filed as: WELLS FARGO ADVISORS LLC

Service code 27 · EIN 04-1347393

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

Advisory (Plan)

$60,206

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

4815 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$59,699

ESTATE & PENSION ADVISORY BOARD4+ years

Service code 13 · EIN 27-0475956

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

Contract Administrator

$59,600

BDO USA, LLP4+ years

Service code 10 · EIN 13-5381590

5300 PATTERSON AVE, STE 100 · GRAND RAPIDS, MI 49512

Accounting

$34,000

WELLS FARGO BANK, N.A.4+ years

Filed as: WELLS FARGO ADVISORS, LLC

Service code 55

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