Plan Ledger DOL Form 5500 · updated monthly

Tower Legal Staffing, Inc.401(k)

TOWER LEGAL SOLUTIONS 401(K) PLAN · NEW YORK, NY · plan year 2023

Reported admin expense ratio · 2023
1.57%

Tower Legal Staffing, Inc. reported $45,255 in plan administrative expenses for 2023: 1.57% of average plan assets, higher than ~90% of peers. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 2 years on file its reported administrative ratio has held roughly steady near 1.57%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other professional & technical services employers. By assets it is among the smaller plans on file in New York (4,820th of 5,648), and 10,416th of 11,654 in professional & technical services. active participation has grown from 145 to 165 since 2022.

Plan summary
Net assets, end of year$3,322,590
Participants with balances376
Active participants165
Employer contributions—
Employee contributions$669,857
Employer contribution per active participant—
Average account balance$8,837
Benefits paid to participants$287,289
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$0
2023$3.3M · 376 accts
2022$2.5M · 372 accts
Administrative expenses, itemized · 2023
Recordkeeping & contract admin$31,790
Investment management$13,465
Total administrative$45,255
What these fees cost you

Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20232
ADP, INC. · Loan processing · Recordkeeping$31,789
LPL FINANCIAL CORPORATION RPCP · Recordkeeping · Trustee$13,464

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Recordkeeper by year2
2024ADP, LPL Financial
2023ADP, LPL Financial

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Administrative cost history3
2024Not separately reported
2023$45,255 · 1.57%
2022$37,819 · 1.54%
Similar plansProfessional & Technical Services · New York
2700 Payroll, Inc. NY$3.4M · 0.75%
Knowledge Builders, Inc. NY$3.1M · 0.29%

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Source: U.S. Department of Labor, Form 5500 series, EIN 260230168 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.