# Towlift, INC. 401(k) Plan
Source: https://planprovider.pro/companies/towlift-inc-401k-plan

> Towlift, INC.'s 401(k) plan: 778 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/meaden-and-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|—|—|

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