Plan Snapshot
- Plan Sponsor: The Michaels Organization, LLC
- Sponsor EIN: 474070382
- Sponsor Address: 2 COOPER STREET, 12TH FLOOR, CAMDEN, NJ, 08101
- Plan Type: 401(k)
- Total Participants: 2,700
- Total Assets: $100.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 2,700 | $100.2M | $5.3M | $8.2M |
| 2023 | 2,503 | $85.2M | $4.6M | $7.2M |
| 2022 | 2,142 | $69.4M | $4.0M | $6.3M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY O | RECORDKEEPER | $169,096 | — | $169,096 |
| WELLS FARGO ADVISORS LLC | BROKER/ADVISOR | $89,496 | — | $89,496 |
| BDO USA, LLP | AUDITOR | $32,500 | — | $32,500 |
| ESTATE & PENSION ADVISORY BOARD | THIRD PARTY ADMINISTRATOR | — | $10,000 | $10,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BDO USA, LLP — AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $301,092
- Estimated Expense Ratio: 0.300% of plan assets
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 | $283,444 | — | $250,906 | $32,500 | — |
| 2023 | $220,355 | — | $198,853 | $21,400 | — |
| 2022 | $301,454 | $60,206 | $146,425 | — | $93,600 |