Ohio › Retail trade › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Macys Inc. Cash Account Pension Plan
Sponsored by Macys Inc., Springdale, OH
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Macys Inc. of Springdale, Ohio sponsors Macys Inc. Cash Account Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 36,261 participants (15,538 active) and $1.88B in net assets.
Net assets came to $51,727 per participant, well below the $88,040 median for defined benefit plans with 25,000 or more participants and well above the $30,870 median for defined benefit plans in retail trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $4.5M: $124 per participant, below the same-size median of $143. Administrative expenses charged to the plan were $8.4M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $2.24B in 2009 to $1.88B in 2024 (down 16%), and participants from 221,463 to 36,261 (down 84%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $51,727 | $88,040 | $30,870 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $2,829 | $10,244 |
| Schedule C compensation per participant | $124 | $143 | $165 | $344 |
| Schedule C compensation, share of net assets | 0.24% | 0.26% | 0.59% | 0.42% |
| Administrative expenses per participant | $232 | $306 | $310 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 plans), retail trade (132) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 36,261 | $1.88B | $51,727 | — | — | $4.5M |
| 2023 | 41,826 | $2.02B | $48,223 | — | — | $4.7M |
| 2022 | 55,128 | $2.30B | $41,693 | — | — | $4.4M |
| 2021 | 59,562 | $3.00B | $50,289 | — | — | $4.8M |
| 2020 | 88,203 | $3.46B | $39,219 | — | — | $4.5M |
| 2019 | 102,212 | $3.26B | $31,917 | — | — | $5.6M |
| 2018 | 116,506 | $2.92B | $25,093 | — | — | $12.7M |
| 2017 | 122,935 | $3.44B | $27,948 | — | — | $14.1M |
| 2016 | 144,715 | $3.34B | $23,066 | — | — | $15.2M |
| 2015 | 165,011 | $3.37B | $20,449 | — | — | $17.1M |
| 2014 | 177,103 | $3.65B | $20,624 | — | — | $19.2M |
| 2013 | 188,308 | $3.61B | $19,169 | — | — | $21.6M |
| 2012 | 201,052 | $3.33B | $16,553 | $150M | — | $22.1M |
| 2011 | 216,848 | $2.98B | $13,727 | $150M | — | $22.8M |
| 2010 | 217,778 | $3.02B | $13,858 | $725M | — | $18.8M |
| 2009 | 221,463 | $2.24B | $10,123 | $635M | — | $17.0M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$2,016,975,000
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$46,467,000
- Benefits paid$179,375,000
- Administrative expenses$8,401,000
- Total expenses$187,776,000
- Net income−$141,309,000
- Net transfers$0
- Net assets, end of year$1,875,666,000
Participants
- Active participants15,538
- Retired or separated, receiving benefits6,340
- Retired or separated, entitled to future benefits14,383
- Total participants, end of year36,261
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Merrill Lynch,pierce,fenner & Smith | Recordkeeping fees | $2,044,013 | $0 |
| Macy's, Inc. | Plan Administrator; Participant communication | $1,581,047 | $0 |
| Aon Consulting Inc. | Actuarial | $825,744 | $0 |
| Classical Marketing, LLC | Participant communication | $22,870 | $0 |
| RSVP | Participant communication | $20,522 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Other administrative expenses$3,949,000
- Recordkeeping fees$2,044,000
- Salaries and allowances$1,581,000
- Actuarial fees$826,000
- Legal fees$1,000
- Total administrative expenses$8,401,000
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Master trust investment accounts$1.88B · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmClark Schaefer Hackett & Co.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $30,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1CCash balance or similar plan3JU.S.-based plan that covers residents of Puerto Rico and is qualified under both codes
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 452200: Department Stores.
Other plans of Macys Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Macys Inc. 401(k) Retirement Investment Plan | 163,125 | $4.63B |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| United Food & Commercial Workers Union Local 880 - Retail Food Employers Joint Pension Fund | United Food & Commercial Workers Union Local 880 - Retail Food | 17,755 | $460M | $25,925 |
| United Food & Commercial Workers Union - Employer Pension Fund | United Food & Commercial Workers Union - Employer Pension Fund | 15,681 | $339M | $21,632 |
| The Kroger Consolidated Retirement Benefit Plan Spin Off | The Kroger Co. | 13,402 | $1.92B | $143,415 |
| Speedway Retirement Plan | Marathon Petroleum Company LP | 4,262 | $124M | $29,017 |
| United Food & Commercial Workers Union Local 880 Mercantile Employers Joint Pension Fund | United Food & Commercial Workers Union Local 880 - Mercantile | 3,101 | $49.9M | $16,076 |
| The Kroger Co. Pension Plan for Employees Rep. by Amalgamated Meat Cutters and Butcher Workmen of North America, AFL-CIO, Local No. 876 | The Kroger Co. | 1,516 | $44.2M | $29,183 |
Defined benefit plans in retail trade closest in size.
Questions and answers
How big is Macys Inc. Cash Account Pension Plan?
36,261 participants at the end of the plan year ending 31 Dec 2024, of whom 15,538 were active employees, with net assets of $1,875,666,000. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Macys Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $4,494,196 in compensation to service provider organisations, $124 per participant or 0.24% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $8,401,000. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Macys Inc.. Recordkeeping or administration: Merrill Lynch,pierce,fenner & Smith and Macy's, Inc.. The financial statements were audited by Clark Schaefer Hackett & Co.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 15 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 13-3324058, plan 012, received 15 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.