Tower Federal Credit Union Retirement Plan — Form 5500 plan (Tower Federal Credit Union)
Plain-English plan 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, Tower Federal Credit Union Retirement Plan is a benefit plan reported by Tower Federal Credit Union under EIN 53-0214895 and plan number 001. The latest loaded filing year is 2023. The filing reports 873 participants and $100,435,106 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Tower Federal Credit Union
- EIN
- 53-0214895
- Plan number
- 001
- Plan type
- 2
- Location
- Laurel, MD
- Latest filing year
- 2023
- Participants
- 873
- End-of-year plan assets
- $100,435,106
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 873 | H, C | 20250408151226NAL0010070131001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $100,435,106
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $100,435,106
- Net assets (BOY)
- $89,802,891
Income & contributions
- Employer contributions
- $4,500,000
- Total contributions
- $4,500,000
- Total income / additions
- $13,156,278
Expenses & distributions
- Benefits paid
- $2,490,373
- Administrative expenses
- $33,690
- Total expenses
- $2,524,063
- Net increase / (decrease)
- $10,632,215
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $33,690 | $0 | 2023 |