Plan Snapshot
- Plan Sponsor: Towlift, INC.
- Sponsor EIN: 340963132
- Sponsor Address: 1395 VALLEY BELT RD, BROOKLYN HEIGHTS, OH, 441311438
- Plan Type: 401(k)
- Total Participants: 778
- Total Assets: $46.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 778 | $46.9M | $729,957 | $4.6M |
| 2023 | 760 | $40.5M | $636,497 | $4.2M |
| 2022 | 568 | $33.4M | $975,094 | $3.0M |
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 | CONTRACT ADMINISTRATOR | $83,319 | — | $83,319 |
| CBIZ INVESTMENT ADVISORY SERVICES, | INVESTMENT ADVISORY | $55,824 | $20 | $55,844 |
| MEADEN & MOORE LTD | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MEADEN & MOORE LTD — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $139,163
- Estimated Expense Ratio: 0.297% 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 | $139,143 | $55,824 | $83,319 | — | — |
| 2023 | $137,214 | $17,259 | $119,955 | — | — |
| 2022 | $158,943 | — | $158,943 | — | — |