Retirement plan
HARRIS CORPORATION RETIREMENT PLAN
HARRIS CORPORATIONEIN 34-0276860Plan #015PY 2015
1025 WEST NASA BLVD, MAIL STOP C41I - MELBOURNE, FL 32919321-724-3682l3harris.comLinkedIn10001+ employeesdefense & space
Prospect flagsHigh assets / participantCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
ANDREA HARTMAN
Signed 10/14/2016
Plan administrator entity
HARRIS CORPORATION EMPLOYEE BENEFITS COMMITTEE
EIN 340276860
1025 WEST NASA BLVD, MAIL STOP C41I · MELBOURNE, CA 32919
Summary metrics
Total assets (EOY)
$6065.2M
-2.7% from 2016
Total participants
22,278
-34.2% from 2016
Average account balance
$272,827
+43.9% from 2016
Annual return
73.60%
+66.02 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort87 peers
Snapshot2015
79
Participant deferral / active EE
$9,226
median $5,946
72
Employer contribution / active EE
$4,603
median $3,302
97
Participation rate
99.6%
median 92.4%
100
Avg account balance
$272,827
median $109,006
5
Admin fee / account holder
$281
median $47
99
Annual return
73.60%
median 0.55%
Overall peer rank
75of 100
75th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$16.32B
Average account balance
Total assets / participants with a balance (line 6g)
$222K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
73,549
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.4%
Contributions (total)
Employer and participant dollars contributed each year
$537.01M
Contributions per participant
Average employer and participant contribution per enrolled participant
$13K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.18%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$49
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
| Provider | Service type | Compensation |
|---|---|---|
Service code 28 · EIN 52-0556948 | Investment Management | $1,665,382 |
SANDS CAPITAL MANAGEMENT1+ years Service code 51 · EIN 20-2830751 | Investment Mgmt Fees | $855,526 |
BLACKROCK INSTITUTIONAL TRUST CO1+ years Service code 21 · EIN 94-3112180 | Bank Trustee | $849,681 |
Service code 37 · EIN 04-2647786 | Loan Processing | $848,468 |
NORTHERN TRUST COMPANY1+ years Service code 21 · EIN 36-1561860 | Bank Trustee | $650,303 |
BROWN ADVISORY1+ years Service code 26 · EIN 26-4560299 | Advisory (Participants) | $570,272 |
CALLAN ASSOCIATES INC1+ years Service code 16 · EIN 94-2192581 | Consulting | $303,580 |
STRATEGIC ADVISORS, INC.1+ years Service code 27 · EIN 04-2654524 | Advisory (Plan) | $198,326 |
Service code 16 · EIN 04-3304255 | Consulting | $140,452 |
RS INVESTMENTS1+ years Service code 28 · EIN 94-3181687 | Investment Management | $129,301 |
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.
Plan features & details
Pension benefit codes2E2F2G2J2K2S2T3F3H
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).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all 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.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 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
2 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Admin total
$6.3M
$565 / participant
- Other / not subdivided$6M100.0%
% of EOY assets
0.103%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- CARR, RIGGS & INGRAM, LLC
- Auditor EIN
- 721396621
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified