Retirement plan
TEXTRON RETIREMENT ACCOUNT PLAN TRUST
TEXTRON, INC.EIN 05-0315468Plan #077PY 2020
Prospect flagsLow assets / participantLow employer contributionLow participant contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JOYCE LAFOND
Signed 07/29/2021
Summary metrics
Total assets (EOY)
$315.9M
-4.8% from 2016
Total participants
14,422
+8.0% from 2016
Average account balance
$21,907
-10.2% from 2016
Annual return
14.67%
-5.68 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort86 peers
Snapshot2020
0
Participant deferral / active EE
$0
median $7,742
13
Employer contribution / active EE
$962
median $3,821
99
Participation rate
100.0%
median 96.2%
5
Avg account balance
$21,907
median $160,963
74
Admin fee / account holder
$13
median $59
53
Annual return
14.67%
median 14.41%
Overall peer rank
41of 100
41st percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$353.33M
Average account balance
Total assets / participants with a balance (line 6g)
$60K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
5,889
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
35.2%
Contributions (total)
Employer and participant dollars contributed each year
$10.40M
Contributions per participant
Average employer and participant contribution per enrolled participant
$1K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+7.69%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$31
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 1 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 04-2647786 | Recordkeeping Fees | $220,351 |
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.
Plan features & details
Pension benefit codes2E2H2T3F3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2HPartial participant-directed account planParticipants 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.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
3 tripped
- OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
- OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
- OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Expense breakdown
Schedule H Part II
Admin total
$189K
$17 / participant
- Other / not subdivided$189K100.0%
% of EOY assets
0.060%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Disclaimer opinion
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
- Auditor firm
- ERNST & YOUNG
- Auditor EIN
- 346565596
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer