# Tower Semiconductor Newport Beach INC. 401(k) Plan
Source: https://planprovider.pro/companies/tower-semiconductor-newport-beach-inc-401k-plan-002

> Tower Semiconductor Newport Beach INC.'s 401(k) plan: 442 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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:** 442

- **Total Assets:** $20.3M

## 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|442|$20.3M|$167,908|$928,905|

| 2023|357|$17.7M|$156,627|$922,913|

| 2022|470|$15.4M|$251,626|$1.2M|

## 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|

| DBBMCKENNON|ACCOUNTANT/AUDITOR|$35,500|—|$35,500|

| FIDELITY INVESTMENTS INSTITUTIONAL|RECORDKEEPER|$13,969|—|$13,969|

| STRATEGIC ADVISORS, INC.|ADVISOR|$6,680|—|$6,680|

### Verified Provider Profiles

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

- [DBBMCKENNON](https://planprovider.pro/provider/dbbmckennon) — ACCOUNTANT/AUDITOR

- [FIDELITY INVESTMENTS INSTITUTIONAL](https://planprovider.pro/provider/fidelity-investments) — RECORDKEEPER

- [STRATEGIC ADVISORS, INC.](https://planprovider.pro/provider/creative-planning) — ADVISOR

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $56,149

- **Estimated Expense Ratio:** 0.277% 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|$56,149|$6,680|—|$35,500|—|

| 2023|$40,558|$7,328|—|$19,000|—|

| 2022|$33,573|$7,483|—|—|—|

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