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Retirement plan

HARRIS CORPORATION SALARIED RETIREMENT PLAN

HARRIS CORPORATIONEIN 34-0276860Plan #001PY 2018
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1025 WEST NASA BOULEVARD - MELBOURNE, FL 32919321-724-3554l3harris.comLinkedIn10001+ employeesdefense & space
Other plans on this EIN
5 filings
#015Retirement-$6.21B assets#019Retirement-$82.6M assets#004Retirement-$49.0M assets#006Retirement-$44.6M assets#235Retirement-$37.4M assets
Prospect flagsHigh retiree %Low returnsLow employer contributionWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(321) 724-3554
Plan administrator entity
EMPL. BEN. COM. HARRIS CORP
EIN 340276860
1025 WEST NASA BOULEVARD · MELBOURNE, FL 329190001
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Summary metrics

Total assets (EOY)
$4243M
-8.3% from 2016
Total participants
41,837
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
-8.50%
-8.30 pp from 2016

Benchmarks

See 153 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined benefit
Participants1,000-4,999
Cohort153 peers
Snapshot2018
Participant deferral / active EE
$0
median $198
Employer contribution / active EE
$0
median $4,409
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $5,379,476
Admin fee / account holder
$0
median $4,675
Annual return
-8.50%
median -4.73%
Overall peer rank
2nd percentileavg across 6 metrics

Analytics

2015 - 2022
Total assets (EOY)
Plan-year ending balance
$0
Average account balance
Total assets / participants with a balance (line 6g)
$157K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
49,097
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
$31K
Contributions per participant
Average employer and participant contribution per enrolled participant
$6
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-93.66%
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

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.

Enrolled actuary

1 attachment
SB

SCOTT BERGER

BUCK GLOBAL, LLC
Enrollment #1706644
500 PLAZA DRIVE
SECAUCUS, NJ 070961533
(201) 902-2300
Signed 2019-09-27

Top hat statement on fileNQDC

Filed March 29, 2005 (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 codes1A1C1E1I3H
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).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 1I
    Frozen plan
    As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
  • 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

4 tripped
  • OpportunityLow employer contribution

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

  • OpportunityLow returns

    Annual investment return 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.

  • 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.

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
BUCHBINDER TUNICK & COMPANY LLP
Auditor EIN
131578842
Audit fees
(not subdivided)
Opinion code
Unqualified