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Retirement plan

TEXTRON MASTER RETIREMENT PLAN

TEXTRON INC.EIN 05-0315468Plan #076PY 2023
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40 WESTMINSTER STREET - PROVIDENCE, RI 029032525401-421-2800LinkedIn11-50 employees
Other plans on this EIN
5 filings
#030Retirement-$5.71B assets#006Retirement-$2.24B assets#077Retirement-$332.4M assets#020Retirement-$105.3M assets#228Retirement-$619K 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 07/11/2024
Plan administrator entity
TEXTRON INC.
EIN 050315468
40 WESTMINSTER STREET · PROVIDENCE, RI 02903
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Summary metrics

Total assets (EOY)
$5244.4M
-3.7% from 2016
Total participants
51,703
+2.1% from 2016
Average account balance
$0
No prior year
Annual return
10.80%
-8.54 pp from 2016

Benchmarks

See 177 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants5,000-9,999
Cohort177 peers
Snapshot2023
Participant deferral / active EE
$0
median $40
Employer contribution / active EE
$0
median $5,730
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
10.80%
median 9.38%
Overall peer rank
67th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$5.46B
Average account balance
Total assets / participants with a balance (line 6g)
$109K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
43,787
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
$899
Not enough data
1 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
$0
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
+9.23%
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 INVESTMENTS5 years
Service code 15 · EIN 04-2647786
Recordkeeping
$2,550,965
TEXTRON INC. ADMIN5 years
Service code 14 · EIN 05-0315468
Plan Administrator
$1,117,675
WILLIS TOWERS WATSON, LLC4 years
Service code 11 · EIN 53-0181291
Actuarial
$377,961
ERNST & YOUNG4 years
Service code 10 · EIN 34-6565596
Accounting
$163,032
PROSKAUER ROSE, LLP5 years
Service code 29 · EIN 35-1840454
Legal
$57,473

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 2024-05-09

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
$17.0M
$2463 / participant
  • Recordkeeping$4M23.1%
  • Legal$69K0.4%
  • Actuarial$378K2.2%
  • Other / not subdivided$13M74.3%
% of EOY assets
0.324%
all-in expense ratio
Categories reported
3 / 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
$171,183
Opinion code
Unqualified