Plan Snapshot
- Plan Sponsor: Tower Products Incorporated
- Sponsor EIN: 141659003
- Sponsor Address: PO BOX 397, SAUGERTIES, NY, 124770397
- Plan Type: 401(k)
- Total Participants: 189
- Total Assets: $18.1M
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. |
|---|---|---|---|---|
| 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 | $63,859 | — | $63,859 |
| STRATEGIC PENSION SERVICES, LLC | Recordkeeper | $21,930 | $7,076 | $29,006 |
| OSAIC WEALTH, INC. | Investment Advisor | — | $28,304 | $28,304 |
| ENVESTNET RETIREMENT SOLUTIONS, LLC | Investment Advisor | — | $7,009 | $7,009 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- OSAIC WEALTH, INC. — Investment Advisor
- ENVESTNET RETIREMENT SOLUTIONS, LLC — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $128,178
- Estimated Expense Ratio: 0.709% 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 |
|---|---|---|---|---|---|
| 2024 | $85,785 | — | $85,785 | — | — |
| 2023 | $72,997 | — | $72,997 | — | — |
| 2022 | $85,255 | — | $84,805 | — | $450 |