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Retirement plan

UNITED TECHNOLOGIES CORPORATION PENSION PLAN

RAYTHEON TECHNOLOGIES CORPORATIONEIN 06-0570975Plan #040PY 2021
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870 WINTER STREET - WALTHAM, MA 024511449781-522-3000
Other plans on this EIN
3 filings
#017Retirement-$31.31B assets#023Retirement-$2.53B assets#038Retirement-$48.2M assets
Prospect flagsHigh retiree %Low participant contribution

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(781) 522-3000
Plan administrator signer
KELLY B. LAPPIN
Signed 10/15/2022
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Summary metrics

Total assets (EOY)
$33949.3M
-4.9% from 2018
Total participants
182,167
-15.7% from 2018
Average account balance
$0
No prior year
Annual return
6.99%
+2727.76 pp from 2018

Benchmarks

See 206 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort206 peers
Snapshot2021
Participant deferral / active EE
$11
median $81
Employer contribution / active EE
$0
median $6,074
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
6.99%
median 11.59%
Overall peer rank
12th percentileavg across 6 metrics

Analytics

2017 - 2022
Total assets (EOY)
Plan-year ending balance
$0
Average account balance
Total assets / participants with a balance (line 6g)
$186K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
154,086
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
$308K
Contributions per participant
Average employer and participant contribution per enrolled participant
$11
Not enough data
2 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-93.95%
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 10 of 13 by compensation
ProviderService typeCompensation
CONDUENT HR CONSULTING, LLC2 years
Service code 16 · EIN 13-3954297
Consulting
$5,534,260
WILLIS TOWERS WATSON1 year
Service code 15 · EIN 98-1261616
Recordkeeping
$1,633,211
PRUDENTIAL2 years
Service code 15 · EIN 06-1050034
Recordkeeping
$953,598
PRICEWATERHOUSECOOPERS LLP1 year
Service code 10 · EIN 13-4008324
Accounting
$397,000
RAYTHEON TECHNOLGIES1 year
Service code 14 · EIN 06-0570975
Plan Administrator
$354,317
ALIGHT SOLUTIONS2 years
Service code 15 · EIN 82-1061233
Recordkeeping
$256,402
DATA BASED DEVELOPMENT1 year
Service code 49 · EIN 06-1202737
Other Services
$144,198
SHAFFII'S INC1 year
Service code 49 · EIN 04-3059252
Other Services
$80,731
MERCER1 year
Service code 11 · EIN 13-2834414
Actuarial
$61,803
DELOITTE1 year
Service code 10 · EIN 13-6044173
Accounting
$26,641

Enrolled actuary

1 attachment
SB

JAY MITCHELL, F.S.A.

WILLIS TOWERS WATSON US LLC
Enrollment #2005718
200 LIBERTY STREET
NEW YORK, NY 10281
(212) 309-3479
Signed 2022-09-27

Top hat statement on fileNQDC

Filed November 2, 2022 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
4 Farm Springs Road
Farmington, CT 06032
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (2)

  • Raytheon Technologies Corporation Executive Severance Plan1,161 emp
  • Raytheon Technologies Corporation Compensation Deferral Plan3,340 emp

Total covered: 4,501 employees

Open the filing PDF

Plan features & details

Pension benefit codes1A1C3H
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).
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
  • 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
  • OpportunityLow participant contribution

    Participant contribution per participant is in the bottom quintile of the peer cohort.

  • InformationalHigh retiree %

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

Expense breakdown

Schedule H Part II
Admin total
$24.9M
$888 / participant
  • Contract admin$362K1.5%
  • Other / not subdivided$25M98.5%
% of EOY assets
0.073%
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