Hightower Holding 401(k) match, vesting and fees
What Hightower Holding's 401(k) plan says about matching contributions
Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions; these additional contributions are ineligible for a Company matching contribution. The Company makes a discretionary matching contribution to each participant’s account equal to 50% of the contributions up to a maximum of 6% of a participant’s compensation.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 28 ↗ |
| Match vesting | Vesting—Participants are vested immediately in their contributions, plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after four years of credited service. | Audit report, p. 29 ↗ |
| Roth contributions | Participants also have the option to make Roth elective salary reduction contributions to the Plan. | Audit report, p. 28 ↗ |
| Loans | Notes Receivable from Participants—Participants may borrow from their accounts a minimum of $1,000 up to a maximum of the lesser of one-half of the vested account balance or $50,000. The loans are secured by an assignment of a participant’s vested interest in the Plan, and bear interest at a rate commensurate with local prevailing rates at the time funds are borrowed as determined by the Plan administrator. Principal and interest are paid ratably through payroll deductions or as a lump sum for the outstanding loan balance. Loan terms range from one to five years; however, terms may exceed five years for the purchase of a primary residence. As of December 31, 2024, participant loans have maturities through 2050 at interest rates ranging from 4.25% to 9.50 %. | Audit report, p. 29 ↗ |
| Recordkeeper | Transamerica Retirement Solutions | Schedule C ↗ |
| Independent auditor | Deloitte & Touche LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 673 defined-contribution plans in finance and insurance with 1,000 to 4,999 participants.
| Hightower Holding: employer contribution per participant | $4,811 | |
| Peer median | $2,966 |
| Hightower Holding: average balance | $131,599 | |
| Peer median | $104,792 |
| Hightower Holding: admin expenses ÷ assets | 0.01% | |
| Peer median | 0.10% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $98.4M at the end of plan year 2021 to $207M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,750 | $207M | $7.6M | $4,811 | 0.01% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 1,700 | $152M | $6M | $4,040 | 0.01% | Not published | Form 5500 ↗ |
| 2022 | 1,518 | $107M | $5.1M | $3,905 | <0.01% | Not published | Form 5500 ↗ |
| 2021 | 1,198 | $98.4M | $3.5M | $3,291 | <0.01% | Not published | Form 5500 ↗ |
Other Hightower Holding plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Hightower Advisor Group 401(k) Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Common questions
Does Hightower Holding match 401(k) contributions?
The audit report attached to the Hightower 401(k) Plan's plan year 2024 Form 5500, page 28 says: “Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions; these additional contributions are ineligible for a Company matching contribution. The Company makes a discretionary matching contribution to each participant’s account equal to 50% of the contributions up to a maximum of 6% of a participant’s compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Hightower Holding 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Vesting—Participants are vested immediately in their contributions, plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after four years of credited service.”
Who manages the Hightower Holding 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Transamerica Retirement Solutions. The plan administrator is Hightower Holding, LLC.
I left Hightower Holding. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Hightower Holding, LLC, (312) 962-3829) or the recordkeeper, Transamerica Retirement Solutions. The Hightower Holding old 401(k) page lists the contacts from every plan filing. Find an old Hightower Holding 401(k)
Data from the public Form 5500 annual reports Hightower Holding filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Hightower Holding. Not financial advice. Report a correction · Methodology