Plan Snapshot
- Plan Sponsor: Tower Semiconductor Newport Beach INC.
- Sponsor EIN: 753005127
- Sponsor Address: 4321 JAMBOREE ROAD, M/S H01 110, NEWPORT BEACH, CA, 92660
- Plan Type: 401(k)
- Total Participants: 1,103
- Total Assets: $176.2M
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 | 1,103 | $176.2M | $2.5M | $7.6M |
| 2023 | 1,080 | $151.3M | $2.6M | $7.8M |
| 2022 | 1,142 | $125.0M | $2.4M | $7.2M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $78,328 | — | $78,328 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $46,741 | — | $46,741 |
| DBBMCKENNON | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- STRATEGIC ADVISORS, INC. — ADVISOR
- DBBMCKENNON — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $125,069
- Estimated Expense Ratio: 0.071% 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 | $125,069 | $46,741 | — | — | — |
| 2023 | $115,133 | $44,194 | — | — | — |
| 2022 | $106,105 | $36,471 | — | — | — |