Plan Snapshot
- Plan Sponsor: The Michaels Organization
- Sponsor EIN: 474070382
- Sponsor Address: TRIAD1828 CENTRE, CAMDEN, NJ, 08101
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 2,009
- Total Assets: $0
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 2,009 | $0 | $0 | $0 |
| 2023 | 2,036 | $0 | $0 | $0 |
| 2022 | 2,117 | $11.5M | $15.9M | $5.4M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| AETNA LIFE INSURANCE COMPANY | Other Service Provider | $1,335,876 | — | $1,335,876 |
| ATTENTIVE HEALTH, LLC | Other Service Provider | $159,850 | — | $159,850 |
| LACHER & ASSOCIATES | Other Service Provider | $100,000 | — | $100,000 |
| WEX HEALTH INC. | Recordkeeper | $99,483 | — | $99,483 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,695,209
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | — | — | — | — | — |
| 2023 | — | — | — | — | — |
| 2022 | $1,221,921 | — | $843,289 | — | $378,632 |