Retirement plan

TOWERS WEALTH MANAGEMENT, INC. 401(K) PLAN

Name: TOWERS WEALTH MANAGEMENT, INC. - TOWERS WEALTH MANAGEMENT, INC. 401(K) PLAN (2024) Form 5500
Creator: TOWERS WEALTH MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOWERS WEALTH MANAGEMENT, INC. 401(K) PLAN, TOWERS WEALTH MANAGEMENT, INC.

TOWERS WEALTH MANAGEMENT, INC.EIN 84-1131902Plan #001PY 2024

17910 COTTONWOOD DR UNIT B - PARKER, CO 80134303-693-1234towerswmi.comLinkedIn1-10 employees

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

+22.0% from 2023

Total participants

0.0% from 2023

Average account balance

$162,845

+22.0% from 2023

Annual return

12.98%

-3.52 pp from 2023

Benchmarks

See 143,415 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,415 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.47M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$163K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$126K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$2857

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$26K

$3214 / participant

Other / not subdivided$26K100.0%

% of EOY assets

1.754%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$162,845

$160,070+1.7%

$147,117+10.7%

$145,897+11.6%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

12.98%

98.69%-85.7pp

420.54%-407.6pp

552.29%-539.3pp

Employer contribution / active EE

$2,945

$5,285-44.3%

$4,932-40.3%

$4,663-36.8%

Participant deferral / active EE

$12,781

$8,419+51.8%

$8,065+58.5%

$6,689+91.1%

Admin fee / account holder

$2,857

$15,035-81.0%

$12,993-78.0%

$13,390-78.7%

TOWERS WEALTH MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOWERS WEALTH MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion