Retirement plan
UNITED TECHNOLOGIES CORPORATION EMPLOYEE SAVINGS PLAN
RAYTHEON TECHNOLOGIES CORPORATIONEIN 06-0570975Plan #017PY 2021
870 WINTER STREET - WALTHAM, MA 024511449781-522-3000
Other plans on this EIN
3 filingsProspect flagsHigh assets / participant
Filing contacts
From the Form 5500, federal recordPlan administrator signer
KELLY B. LAPPIN
Signed 07/13/2022
Summary metrics
Total assets (EOY)
$31312.5M
-4.7% from 2016
Total participants
112,933
+1.4% from 2016
Average account balance
$279,409
-6.1% from 2016
Annual return
14.83%
-15.01 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort94 peers
Snapshot2021
82
Participant deferral / active EE
$11,644
median $7,803
63
Employer contribution / active EE
$5,452
median $4,368
80
Participation rate
98.4%
median 95.8%
84
Avg account balance
$279,409
median $166,140
87
Admin fee / account holder
$0
median $68
33
Annual return
14.83%
median 15.87%
Overall peer rank
72of 100
72nd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$58.65B
Average account balance
Total assets / participants with a balance (line 6g)
$277K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
211,992
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.2%
Contributions (total)
Employer and participant dollars contributed each year
$2.81B
Contributions per participant
Average employer and participant contribution per enrolled participant
$23K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.27%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$47
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Providers data not reported
Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.
Top hat statement on fileNQDC
Filed November 2, 2022 (most recent of 2 filings on file)
Plan administrator
Plans declared (2)
- Raytheon Technologies Corporation Executive Severance Plan1,161 emp
- Raytheon Technologies Corporation Compensation Deferral Plan3,340 emp
Total covered: 4,501 employees
Plan features & details
Pension benefit codes2E2F2H2J2K2P3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 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.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2PLeveraged ESOPEmployee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- PRICEWATERHOUSECOOPERS
- Auditor EIN
- 134008324
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified