# The Michaels Organization, LLC 401(k) Plan
Source: https://planprovider.pro/companies/the-michaels-organization-llc-401k-plan

> The Michaels Organization, LLC's 401(k) plan: 2,700 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/bdo-usa-pc) — 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|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/the-michaels-organization-llc-401k-plan)

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