Retirement plan
UNITED TECHNOLOGIES CORPORATION EMPLOYEE SAVINGS PLAN
RAYTHEON TECHNOLOGIES CORPORATIONEIN 06-0570975Plan #017PY 2022
4 FARM SPRINGS ROAD - FARMINGTON, CT 06032781-522-3000
Other plans on this EIN
3 filingsProspect flagsHigh assets / participant
Filing contacts
From the Form 5500, federal recordPlan administrator signer
KELLY B. LAPPIN
Signed 09/15/2023
Summary metrics
Total assets (EOY)
$48917M
-4.7% from 2016
Total participants
117,089
+1.4% from 2016
Average account balance
$425,243
-6.1% from 2016
Annual return
58.84%
-15.01 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort101 peers
Snapshot2022
85
Participant deferral / active EE
$12,182
median $7,572
68
Employer contribution / active EE
$5,697
median $4,531
58
Participation rate
96.5%
median 95.9%
100
Avg account balance
$425,243
median $127,170
73
Admin fee / account holder
$27
median $62
99
Annual return
58.84%
median -15.10%
Overall peer rank
81of 100
81st 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
Top 2 by compensation
| Provider | Service type | Compensation |
|---|---|---|
ALIGHT SOLUTIONS LLC1 year Service code 15 · EIN 82-1061233 | Recordkeeping | $2,760,000 |
Service code 28 · EIN 04-1867445 | Investment Management | $248,000 |
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.
Expense breakdown
Schedule H Part II
Admin total
$3.1M
$52 / participant
- Investment mgmt$248K8.0%
- Other / not subdivided$3M92.0%
% of EOY assets
0.006%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used
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