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Macy's, Inc. 401k Retirement Investment Plan


Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan01/25/1953
  • Net Assets as of 12/31/2015 $3,467,944,000
  • Plan Number13
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2015

  • Active (Eligible) Participants113,136
  • Retired or separated participants receiving benefits6
  • Other retired or separated participants entitled to future benefits59,766
  • Subtotal172,908
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1,605
  • Total174,513
  • Total number of participants as of 01/01/2015172,976
  • Number of participants with account balances168,226
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested11,571


  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address7 W 7th St
  • CityCincinnati
  • StateOH
  • Zip45202
  • Telephone(513) 579-7000
  • EIN13-3324058
  • Industry Code452110
  • Named AdministratorStephen J. O'Bryan, Vice President
  • Named Plan SponsorStephen J. O'Bryan, Vice President

Plan Administrator Information

  • Administrator NameMacys Inc Pension & P/S Admin Comm
  • Address7 W 7th St
  • CityCincinnati
  • StateOH
  • Zip45202
  • Telephone(513) 579-7000
  • Administrator EIN31-1104425

Audit Information

  • Audit StatusAudited
  • AuditorKPMG
  • Auditor EIN13-5565207
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $30,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? No
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No


Income and Expense Statement

Income $-3,720,000
Contributions $321,473,000
Cash Contributions $321,473,000
Cash from Employers $89,500,000
Cash from Participants $231,973,000
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-325,193,000
Total Interest $0
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $-325,193,000
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $0
Other Income $0
Expenses $417,299,000
Total Benefit Payments $407,190,000
Directly to participants or beneficiaries, including direct rollovers $407,190,000
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $10,109,000
Professional Fees $4,448,000
Contract Administrator Fees $814,000
Investment Advisory and management fees $4,631,000
Other Administrative Fees $216,000
Net Income $-421,019,000
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $3,469,512,000 $3,890,686,000 -10.83%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $97,157,000 $92,570,000 4.96%
Employer Contributions $89,500,000 $88,048,000 1.65%
Participant Contributions $3,101,000 $0 0.0%
Other Contributions $4,556,000 $4,522,000 0.75%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $74,694,000 $75,359,000 -0.88%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $3,297,661,000 $3,722,757,000 -11.42%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $1,568,000 $1,723,000 -9.00%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $1,568,000 $1,723,000 -9.00%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $3,467,944,000 $3,888,963,000 -10.83%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Goldman Sachs Trust Company Na
  • The Vanguard Group Inc

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Merrill Lynch, Pierce, Fenner&Smith Recordkeeping fees Recordkeeping $3,986,775 $0 $3,986,775
Metlife Management Investment management fees paid directly by plan Inv Mgr $1,230,425 $0 $1,230,425
Macys Credit & Customer Services Plan Administrator Plan Admin $755,825 $0 $755,825
Transamerica Premier Life Insurance Investment management fees paid directly by plan Inv Mgr $463,365 $0 $463,365
Bny Mellon Investment management fees paid directly by plan Inv Mgr $283,360 $0 $283,360
Payden & Rygel Investment Mgmt Investment management fees paid directly by plan Inv Mgr $258,633 $0 $258,633
Jp Morgan Chase Bank Trustee (bank, trust company, or similar financial institution) Trustee $206,905 $0 $206,905
Acs Buck Consultants Recordkeeping fees Recordkeeping $108,000 $0 $108,000
Classical Marketing LLC Participant communication Part Comm $88,835 $0 $88,835
Kpmg Peat Marwick LLP Accounting (including auditing) Auditor $80,000 $0 $80,000
Us Postal Service Participant communication Part Comm $76,801 $0 $76,801
Rocaton Investment Advisors Consulting (general) Consultant $65,250 $0 $65,250
Macy's Inc Plan Administrator Plan Adm $58,498 $0 $58,498
Jp Morgan Investment Management Investment management fees paid indirectly by plan Inv. Mgr. $0 $15,196 $15,196
Sanger & Eby Design Participant communication Part Comm $13,912 $0 $13,912
DHL Participant communication Part Comm $13,463 $0 $13,463
Rsvp Direct, Inc Participant communication Part Comm $8,182 $0 $8,182
Jp Morgan Securities, LLC Investment management fees paid indirectly by plan Inv Mgr $0 $7,782 $7,782
Partnercomm, Inc Participant communication Part Comm $7,701 $0 $7,701
Total $7,705,930 $22,978 $7,728,908

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.



Name of Investment Investment Manager Type of Investment Dollar Value
Macys, Inc. Dc Plan Mt Macys, Inc. DFE: Master Trust Investment Account $3,297,661,000
Total $3,297,661,000

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.