2023 Form 5500 filing — Tower Semiconductor Newport Beach Hourly Savings 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 20241015165333NAL0058813106001) for Tower Semiconductor Newport Beach Hourly Savings Plan, reported by Tower Semiconductor Newport Beach Inc. under EIN 75-3005127 and plan number 002. It reports 511 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015165333NAL0058813106001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Tower Semiconductor Newport Beach Inc.
- EIN
- 75-3005127
- Plan number
- 002
- Location
- Newport Beach, CA
- Participants
- 511
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $17,735,214
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $17,735,214
- Employer contributions
- $156,627
- Participant contributions
- $922,913
- Total income / additions
- $4,018,019
- Benefits paid
- $1,451,694
- Administrative expenses
- $40,558
- Total expenses
- $1,514,386
- Net increase / (decrease)
- $2,503,633
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Dbbmckennon | ACCOUNTANT/AUDITOR | $19,000 | not reported in the loaded dataset |
| Fidelity Investments Institutional | RECORDKEEPER | $14,230 | $0 |
| Strategic Advisors, Inc. | ADVISOR | $7,328 | not reported in the loaded dataset |