Plan Snapshot
- Plan Sponsor: Tower Products Incorporated
- Sponsor EIN: 141659003
- Sponsor Address: PO BOX 397, SAUGERTIES, NY, 124770397
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 232
- Total Assets: $18.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 232 | $18.7M | $0 | $0 |
| 2024 | 189 | $18.1M | $57 | $606,437 |
| 2023 | 188 | $17.2M | $0 | $533,208 |
| 2022 | 185 | $15.8M | $714 | $491,499 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $62,764 | — | $62,764 |
| STRATEGIC PENSION SERVICES, LLC | Recordkeeper | $23,391 | $7,383 | $30,774 |
| J.W. COLE FINANCIAL, INC. | Other Service Provider | — | $22,336 | $22,336 |
| OSAIC WEALTH, INC. | Other Service Provider | — | $7,199 | $7,199 |
| ENVESTNET RETIREMENT SOLUTIONS, LLC | Investment Advisor | — | $6,879 | $6,879 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $129,952
- Estimated Expense Ratio: 0.695% 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 |
|---|---|---|---|---|---|
| 2025 | $2,868,355 | — | $86,151 | — | — |
| 2024 | $85,785 | — | $85,785 | — | — |
| 2023 | $72,997 | — | $72,997 | — | — |
| 2022 | $85,255 | — | $84,805 | — | $450 |