Employers › Michaels Stores
Recordkeeping fees per participant · Michaels Stores, Inc. Employees 401(k) Plan · plan year 2024
$65.34
Higher than 71% of the 1,697 plans $250M to 1B that report it.
= $422,789 / 6,471
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251105103009NAL0010681841001, received 2025-11-05
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251105103009NAL0010681841001, received 2025-11-05
Percentiles compare this plan with the Schedule H plans $250M to 1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-11-05.
Administrative expenses excluding investment management, per participant
$98.09
Higher than 75% of the 2,324 plans $250M to 1B that report it.
= $634,714 / 6,471
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251105103009NAL0010681841001, received 2025-11-05
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251105103009NAL0010681841001, received 2025-11-05
Administrative expenses per participant
$135.64
Higher than 77% of the 2,405 plans $250M to 1B that report it.
= $877,752 / 6,471
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251105103009NAL0010681841001, received 2025-11-05
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251105103009NAL0010681841001, received 2025-11-05
Administrative expenses as a share of assets
0.260%
Higher than 96% of the 2,407 plans $250M to 1B that report it.
= $877,752 / $337,204,588
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251105103009NAL0010681841001, received 2025-11-05
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251105103009NAL0010681841001, received 2025-11-05
Employer contributions per participant
$1,614
Higher than 18% of the 2,457 plans $250M to 1B that report it.
= $10,443,748 / 6,471
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251105103009NAL0010681841001, received 2025-11-05
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251105103009NAL0010681841001, received 2025-11-05
Employer share of total contributions
30.7%
Higher than 49% of the 2,459 plans $250M to 1B that report it.
= $10,443,748 / $33,990,249
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251105103009NAL0010681841001, received 2025-11-05
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251105103009NAL0010681841001, received 2025-11-05
Plan terms are described in Michaels Stores, Inc.'s SEC filings: Form 11-K filed 2006-06-29 and Form 10-K filed 2014-04-29. No term could be quoted from them with the required precision.
2E profit-sharing · 2F ERISA 404(c) plan · 2H partially participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251105103009NAL0010681841001, received 2025-11-05
| Field | Value | Source |
|---|---|---|
| Plan sponsor | MICHAELS STORES, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Plan name | MICHAELS STORES, INC. EMPLOYEES 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Sponsor EIN / plan number | 75-1943604 / 001 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Sponsor location | IRVING, TX | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Industry (business code) | 442299, Retail trade | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Filing received | 2025-11-05 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Participants, beginning of year | 6,591 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Active participants | 27,613 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Participants, end of year | 29,442 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Participants with an account balance | 6,471 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Total assets, beginning of year | $307,002,488 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Total assets, end of year | $337,204,588 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Net assets, end of year | $337,204,588 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Total income | $74,597,918 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Net income | $30,128,837 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Employer contributions | $10,443,748 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Participant contributions | $20,888,376 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Other contributions (incl. rollovers) | $2,658,125 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Total contributions | $33,990,249 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Benefit payments | $43,470,072 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Total expenses (incl. benefit payments) | $44,469,081 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Total administrative expenses | $877,752 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Contract administrator fees | $188,164 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Recordkeeping fees | $422,789 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Investment advisory and management fees | $243,038 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Administrative expenses excluding investment management | $634,714 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Held in common/collective trusts | $329,909,928 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Held in mutual funds | $1,764,038 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251105103009NAL0010681841001, received 2025-11-05 |
| Independent auditor | WEAVER AND TIDWELL, L.L.P. | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251105103009NAL0010681841001, received 2025-11-05 |
Position = column in the DOL layout for form year 2024. Filing 20251105103009NAL0010681841001, received 2025-11-05.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| VOYA INSTITUTIONAL PLAN SERVICESrecordkeeper | RECORDKEEPER | 37 Participant loan processing; 38 Participant communication; 64 Recordkeeping fees; 65 Account maintenance fees | $344,375 | yes |
| MERCER INVESTMENTS LLC | NONE | 27 Investment advisory (plan); 31 Named fiduciary | $258,139 | no |
| VOYA RETIREMENT ADVISORS | INVESTMENT ADVISOR | 26 Investment advisory (participants) | $34,326 | no |
| THE VANGUARD GROUP | NONE | 16 Consulting (general); 26 Investment advisory (participants); 99 Other fees | $8,449 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251105103009NAL0010681841001, received 2025-11-05.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $307,002,488 | $337,204,588 | 9.8% |
| Participants with a balance | 6,387 | 6,471 | 1.3% |
| Administrative expenses | $430,428 | $877,752 | 103.9% |
| Recordkeeping fees per participant | not reported | $65.34 | |
| Employer contributions | $8,862,080 | $10,443,748 | 17.8% |
Prior filing 20241009160237NAL0038391058001, received 2024-10-09; the plan years are contiguous.
Sponsor name as filed: MICHAELS STORES, INC.; SEC registrant: MICHAELS STORES INC (CIK 740670, matched by EIN).