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TOWER INSPECTION 401(K) PLAN 401k Plan overview

Plan NameTOWER INSPECTION 401(K) PLAN
Plan identification number 001

TOWER INSPECTION 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • ESOP other than a leveraged ESOP - A completed Schedule E must be attached to a Form 5500 filed for an Employee Stock Ownership Plan (ESOP).
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

TOWER INSPECTION, INC. has sponsored the creation of one or more 401k plans.

Company Name:TOWER INSPECTION, INC.
Employer identification number (EIN):730720098
NAIC Classification:237990
NAIC Description:Other Heavy and Civil Engineering Construction

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TOWER INSPECTION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012024-01-01GARY LEHMAN
0012023-01-01
0012023-01-01GARY LEHMAN
0012023-01-01GARY LEHMAN
0012022-01-01
0012022-01-01
0012022-01-01GARY LEHMAN
0012021-01-01
0012021-01-01
0012021-01-01GARY LEHMAN
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01GARY LEHMAN
0012016-01-01GARY LEHMAN
0012015-01-01GARY LEHMAN
0012014-12-01GARY LEHMAN

Financial Data on TOWER INSPECTION 401(K) PLAN

Measure Date Value
2023 : TOWER INSPECTION 401(K) PLAN 2023 401k financial data
Total plan liabilities at end of year2023-12-31$0
Total plan liabilities at beginning of year2023-12-31$0
Total income from all sources2023-12-31$364,986
Expenses. Total of all expenses incurred2023-12-31$272,255
Benefits paid (including direct rollovers)2023-12-31$272,255
Total plan assets at end of year2023-12-31$2,308,388
Total plan assets at beginning of year2023-12-31$2,215,657
Value of fidelity bond covering the plan2023-12-31$250,000
Total contributions received or receivable from participants2023-12-31$124,230
Other income received2023-12-31$160,571
Net income (gross income less expenses)2023-12-31$92,731
Net plan assets at end of year (total assets less liabilities)2023-12-31$2,308,388
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$2,215,657
Assets. Value of employer securities2023-12-31$1,112,072
Total contributions received or receivable from employer(s)2023-12-31$80,185
2022 : TOWER INSPECTION 401(K) PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$0
Total plan liabilities at beginning of year2022-12-31$0
Total income from all sources2022-12-31$1,532
Expenses. Total of all expenses incurred2022-12-31$105,041
Benefits paid (including direct rollovers)2022-12-31$105,041
Total plan assets at end of year2022-12-31$1,269,827
Total plan assets at beginning of year2022-12-31$1,373,336
Value of fidelity bond covering the plan2022-12-31$250,000
Total contributions received or receivable from participants2022-12-31$95,838
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$-154,888
Net income (gross income less expenses)2022-12-31$-103,509
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,269,827
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,373,336
Assets. Value of employer securities2022-12-31$423,930
Total contributions received or receivable from employer(s)2022-12-31$60,582
Value of certain deemed distributions of participant loans2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$0
2021 : TOWER INSPECTION 401(K) PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$0
Total plan liabilities at beginning of year2021-12-31$0
Total income from all sources2021-12-31$280,486
Expenses. Total of all expenses incurred2021-12-31$94,476
Benefits paid (including direct rollovers)2021-12-31$94,476
Total plan assets at end of year2021-12-31$1,373,336
Total plan assets at beginning of year2021-12-31$1,187,326
Value of fidelity bond covering the plan2021-12-31$250,000
Total contributions received or receivable from participants2021-12-31$79,200
Other income received2021-12-31$143,531
Net income (gross income less expenses)2021-12-31$186,010
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,373,336
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,187,326
Assets. Value of employer securities2021-12-31$423,930
Total contributions received or receivable from employer(s)2021-12-31$57,755
2020 : TOWER INSPECTION 401(K) PLAN 2020 401k financial data
Total plan liabilities at beginning of year2020-12-31$0
Total income from all sources2020-12-31$189,745
Expenses. Total of all expenses incurred2020-12-31$8,692
Benefits paid (including direct rollovers)2020-12-31$8,692
Total plan assets at end of year2020-12-31$1,187,326
Total plan assets at beginning of year2020-12-31$1,006,273
Value of fidelity bond covering the plan2020-12-31$250,000
Total contributions received or receivable from participants2020-12-31$64,695
Other income received2020-12-31$73,989
Net income (gross income less expenses)2020-12-31$181,053
Net plan assets at end of year (total assets less liabilities)2020-12-31$1,187,326
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$1,006,273
Assets. Value of employer securities2020-12-31$423,930
Total contributions received or receivable from employer(s)2020-12-31$51,061
Value of certain deemed distributions of participant loans2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$0
2019 : TOWER INSPECTION 401(K) PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$227,493
Total plan assets at end of year2019-12-31$1,006,273
Total plan assets at beginning of year2019-12-31$778,780
Value of fidelity bond covering the plan2019-12-31$250,000
Total contributions received or receivable from participants2019-12-31$55,345
Other income received2019-12-31$128,702
Net income (gross income less expenses)2019-12-31$227,493
Net plan assets at end of year (total assets less liabilities)2019-12-31$1,006,273
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$778,780
Assets. Value of employer securities2019-12-31$423,930
Total contributions received or receivable from employer(s)2019-12-31$43,446
2018 : TOWER INSPECTION 401(K) PLAN 2018 401k financial data
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$61,995
Expenses. Total of all expenses incurred2018-12-31$141,550
Benefits paid (including direct rollovers)2018-12-31$141,550
Total plan assets at end of year2018-12-31$778,780
Total plan assets at beginning of year2018-12-31$858,335
Value of fidelity bond covering the plan2018-12-31$250,000
Total contributions received or receivable from participants2018-12-31$52,977
Contributions received from other sources (not participants or employers)2018-12-31$0
Other income received2018-12-31$-32,570
Net income (gross income less expenses)2018-12-31$-79,555
Net plan assets at end of year (total assets less liabilities)2018-12-31$778,780
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$858,335
Assets. Value of employer securities2018-12-31$423,930
Total contributions received or receivable from employer(s)2018-12-31$41,588
Value of certain deemed distributions of participant loans2018-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$0
2017 : TOWER INSPECTION 401(K) PLAN 2017 401k financial data
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$173,934
Expenses. Total of all expenses incurred2017-12-31$414,528
Benefits paid (including direct rollovers)2017-12-31$414,528
Total plan assets at end of year2017-12-31$858,335
Total plan assets at beginning of year2017-12-31$1,098,929
Value of fidelity bond covering the plan2017-12-31$250,000
Total contributions received or receivable from participants2017-12-31$84,371
Other income received2017-12-31$43,301
Net income (gross income less expenses)2017-12-31$-240,594
Net plan assets at end of year (total assets less liabilities)2017-12-31$858,335
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,098,929
Assets. Value of employer securities2017-12-31$423,930
Total contributions received or receivable from employer(s)2017-12-31$46,262
2016 : TOWER INSPECTION 401(K) PLAN 2016 401k financial data
Total income from all sources2016-12-31$183,970
Expenses. Total of all expenses incurred2016-12-31$176,104
Benefits paid (including direct rollovers)2016-12-31$176,104
Total plan assets at end of year2016-12-31$1,098,929
Total plan assets at beginning of year2016-12-31$1,091,063
Value of fidelity bond covering the plan2016-12-31$250,000
Total contributions received or receivable from participants2016-12-31$117,996
Other income received2016-12-31$25,092
Net income (gross income less expenses)2016-12-31$7,866
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,098,929
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$1,091,063
Assets. Value of employer securities2016-12-31$423,930
Total contributions received or receivable from employer(s)2016-12-31$40,882
2015 : TOWER INSPECTION 401(K) PLAN 2015 401k financial data
Total plan liabilities at beginning of year2015-12-31$550
Total income from all sources2015-12-31$-34,329
Expenses. Total of all expenses incurred2015-12-31$61,147
Benefits paid (including direct rollovers)2015-12-31$61,147
Total plan assets at end of year2015-12-31$1,091,063
Total plan assets at beginning of year2015-12-31$1,187,089
Value of fidelity bond covering the plan2015-12-31$250,000
Total contributions received or receivable from participants2015-12-31$47,478
Contributions received from other sources (not participants or employers)2015-12-31$11,912
Other income received2015-12-31$-173,709
Net income (gross income less expenses)2015-12-31$-95,476
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,091,063
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$1,186,539
Assets. Value of employer securities2015-12-31$958,356
Total contributions received or receivable from employer(s)2015-12-31$79,990
2014 : TOWER INSPECTION 401(K) PLAN 2014 401k financial data
Total plan liabilities at end of year2014-12-31$550
Total plan liabilities at beginning of year2014-12-31$550
Total income from all sources2014-12-31$210,221
Total plan assets at end of year2014-12-31$1,187,089
Total plan assets at beginning of year2014-12-31$976,868
Other income received2014-12-31$210,221
Net income (gross income less expenses)2014-12-31$210,221
Net plan assets at end of year (total assets less liabilities)2014-12-31$1,186,539
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$976,318
Assets. Value of employer securities2014-12-31$1,187,089

Form 5500 Responses for TOWER INSPECTION 401(K) PLAN

2023: TOWER INSPECTION 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: TOWER INSPECTION 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: TOWER INSPECTION 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: TOWER INSPECTION 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: TOWER INSPECTION 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: TOWER INSPECTION 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: TOWER INSPECTION 401(K) PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – InsuranceYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: TOWER INSPECTION 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: TOWER INSPECTION 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: TOWER INSPECTION 401(K) PLAN 2014 form 5500 responses
2014-12-01Type of plan entitySingle employer plan
2014-12-01Submission has been amendedYes
2014-12-01This return/report is a short plan year return/report (less than 12 months)Yes
2014-12-01Plan funding arrangement – TrustYes
2014-12-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-86547
Policy instance 1
Insurance contract or identification number871-86547
Number of Individuals Covered26
Are there contracts with unallocated funds for contracts of type guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-86547
Policy instance 1
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-80074
Policy instance 1
NATIONWIDE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66869 )
Policy contract number871-80074
Policy instance 1

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