# Tower Federal Credit Union DB Plan
Source: https://planprovider.pro/companies/tower-federal-credit-union-plan-001

> Tower Federal Credit Union's DB plan: 407 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Tower Federal Credit Union

- **Sponsor EIN:** 530214895

- **Sponsor Address:** 7901 SANDY SPRING RD, LAUREL, MD, 207073589

- **Plan Type:** DB

- **Total Participants:** 407

- **Total Assets:** $100.4M

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **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|407|$100.4M|$0|$0|

| 2023|451|$89.8M|$0|$0|

## 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|

| DOEREN MAYHEW ASSURANCE|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [DOEREN MAYHEW ASSURANCE](https://planprovider.pro/provider/doeren-mayhew-assurance) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $0

### 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|$33,690|—|$33,690|—|—|

| 2023|$450|—|$450|—|—|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/tower-federal-credit-union-plan-001)

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