2023 Form 5500 filing — Tower Federal Credit Union Retirement Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20250408151226NAL0010070131001) for Tower Federal Credit Union Retirement Plan, reported by Tower Federal Credit Union under EIN 53-0214895 and plan number 001. It reports 873 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20250408151226NAL0010070131001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Tower Federal Credit Union
- EIN
- 53-0214895
- Plan number
- 001
- Location
- Laurel, MD
- Participants
- 873
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $100,435,106
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $100,435,106
- Employer contributions
- $4,500,000
- Total income / additions
- $13,156,278
- Benefits paid
- $2,490,373
- Administrative expenses
- $33,690
- Total expenses
- $2,524,063
- Net increase / (decrease)
- $10,632,215
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $33,690 | $0 |