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Retirement plan

BELL HELICOPTER TEXTRON MASTER RETIREMENT PLAN

TEXTRON INC.EIN 05-0315468Plan #006PY 2022
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40 WESTMINSTER STREET - PROVIDENCE, RI 029032525401-421-2800LinkedIn11-50 employees
Other plans on this EIN
5 filings
#030Retirement-$4.98B assets#076Retirement-$4.97B assets#077Retirement-$291.0M assets#020Retirement-$97.2M assets#228Retirement-$520K assets
Prospect flagsHigh retiree %Wind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(401) 421-2800
Plan administrator signer
JOYCE LAFOND
Signed 07/24/2023
Plan administrator entity
TEXTRON INC.
EIN 050315468
40 WESTMINSTER STREET · PROVIDENCE, RI 02903
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Summary metrics

Total assets (EOY)
$2134.5M
-16.9% from 2016
Total participants
11,881
+2.1% from 2016
Average account balance
$0
No prior year
Annual return
-15.90%
-8.15 pp from 2016

Benchmarks

See 102 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined benefit
Participants1,000-4,999
Cohort102 peers
Snapshot2022
Participant deferral / active EE
$0
median $226
Employer contribution / active EE
$0
median $4,201
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $2,456,633
Admin fee / account holder
$0
median $14,884
Annual return
-15.90%
median -19.23%
Overall peer rank
73rd percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$2.33B
Average account balance
Total assets / participants with a balance (line 6g)
$202K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
9,099
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$300.00M
Not enough data
1 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
$80K
Not enough data
1 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+9.41%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 5 by compensation
ProviderService typeCompensation
FIDELITY INVESTMENTS4 years
Service code 15 · EIN 04-2647786
Recordkeeping
$649,812
TEXTRON INC. ADMIN4 years
Service code 14 · EIN 05-0315468
Plan Administrator
$524,477
ERNST & YOUNG3 years
Service code 10 · EIN 34-6565596
Accounting
$70,005
WILLIS TOWERS WATSON, LLC3 years
Service code 11 · EIN 53-0181291
Actuarial
$48,700
PROSKAUER ROSE, LLP4 years
Service code 29 · EIN 35-1840454
Legal
$4,824

Enrolled actuary

1 attachment
SB

JOSEPH A GRONDIN

WILLIS TOWERS WATSON US LLC
Enrollment #2306662
26555 EVERGREEN ROAD
SUITE 1600
SOUTHFIELD, MI 48076
(248) 936-7700
Signed 2023-06-28

Top hat statement on fileNQDC

Filed December 15, 1995 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes1A1B3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1B
    Benefits are primarily flat dollar
    Benefits are primarily a flat dollar amount (including a dollar amount per year of service).
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$2.4M
$845 / participant
  • Other / not subdivided$2M100.0%
% of EOY assets
0.111%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
ERNST & YOUNG LLP
Auditor EIN
346565596
Audit fees
(not subdivided)
Opinion code
Unqualified