Retirement plan

THE MACERICH PROPERTY MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN

Name: MACERICH PROPERTY MGMT CO LLC. - THE MACERICH PROPERTY MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: MACERICH PROPERTY MGMT CO LLC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MACERICH PROPERTY MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN, MACERICH PROPERTY MGMT CO LLC.

MACERICH PROPERTY MGMT CO LLC.EIN 95-4853294Plan #001PY 2020

401 WILSHIRE BLVD, STE 700 - SANTA MONICA, CA 90401310-394-6000LinkedIn51-200 employeesreal estate

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$193.9M

+16.7% from 2019

Total participants

1,070

-6.1% from 2019

Average account balance

$187,889

+24.1% from 2019

Annual return

16.95%

-5.90 pp from 2019

Benchmarks

See 615 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants250-999

Cohort615 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$242.10M

Not enough data

1 years with asset history on file

Average account balance

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

$254K

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.

952

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+14.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$210

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 10 of 17 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$339,379
UBS FINANCIAL SERVICES INC4 years Filed as: UBS FINANCIAL SERVICES INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$100,243
MESIROW FINANCIAL INVESTMENT MANAGE5+ years Service code 27 · EIN 36-3429599	Advisory (Plan)	$15,050
AMERICAN FUNDS4 years Service code 52 · EIN 95-2817150	Indirect Investment Fees	$0
COHEN & STEERS4 years Service code 52 · EIN 14-1904657	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 93-0577450	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL4 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-3022712	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 13-5657518	Indirect Investment Fees	$0
JANUS HENDERSON4 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 33-1043149	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3H2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$339K

$486 / participant

Investment mgmt$331K97.4%
Contract admin$9K2.6%

% of EOY assets

0.175%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$187,889

$56,152+234.6%

$185,823+1.1%

$73,409+155.9%

Participation rate

94.6%

67.6%+27.0pp

78.0%+16.5pp

72.2%+22.4pp

Annual return

16.95%

17.59%-0.6pp

35.95%-19.0pp

59.29%-42.3pp

Employer contribution / active EE

$4,842

$1,532+216.1%

$4,087+18.5%

$2,234+116.8%

Participant deferral / active EE

$9,899

$3,659+170.5%

$5,632+75.8%

$3,805+160.1%

Admin fee / account holder

$329

$132+149.1%

$9,500-96.5%

$158+108.3%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$339,379

UBS FINANCIAL SERVICES INC4 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$100,243

MESIROW FINANCIAL INVESTMENT MANAGE5+ years

Service code 27 · EIN 36-3429599

Advisory (Plan)

$15,050

AMERICAN FUNDS4 years

Service code 52 · EIN 95-2817150

Indirect Investment Fees

COHEN & STEERS4 years

Service code 52 · EIN 14-1904657

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 93-0577450

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-3022712

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 13-5657518

Indirect Investment Fees

JANUS HENDERSON4 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 33-1043149

Indirect Investment Fees

THE MACERICH PROPERTY MANAGEMENT COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MACERICH PROPERTY MANAGEMENT COMPANY 401(K) PROFIT SHARING 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