Retirement plan
HARRIS CORPORATION RETIREMENT PLAN
HARRIS CORPORATIONEIN 34-0276860Plan #015PY 2016
1025 WEST NASA BLVD, MAIL STOP A-11L - MELBOURNE, FL 32919321-724-3554l3harris.comLinkedIn10001+ employeesdefense & space
Prospect flagsFailed to provide benefitCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
ANDREA HARTMAN
Signed 10/12/2017
Plan administrator entity
HARRIS CORPORATION EMPLOYEE BENEFITS COMMITTEE
EIN 340276860
Summary metrics
Total assets (EOY)
$6232.5M
-2.7% from 2016
Total participants
33,845
-34.2% from 2016
Average account balance
$189,621
+43.9% from 2016
Annual return
7.58%
+66.02 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort85 peers
Snapshot2016
76
Participant deferral / active EE
$9,335
median $6,390
56
Employer contribution / active EE
$3,861
median $3,656
54
Participation rate
95.1%
median 94.0%
79
Avg account balance
$189,621
median $129,246
2
Admin fee / account holder
$273
median $52
31
Annual return
7.58%
median 8.87%
Overall peer rank
50of 100
50th 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 16 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $1,874,098 |
Service code 28 · EIN 52-0556948 | Investment Management | $1,736,569 |
Service code 21 · EIN 94-3112180 | Bank Trustee | $1,579,063 |
SANDS CAPITAL MANAGEMENT2+ years Service code 51 · EIN 20-2830751 | Investment Mgmt Fees | $991,674 |
NORTHERN TRUST COMPANY2+ years Service code 21 · EIN 36-1561860 | Bank Trustee | $804,938 |
BROWN ADVISORY2+ years Service code 26 · EIN 26-4560299 | Advisory (Participants) | $690,343 |
STRATEGIC ADVISORS, INC.2+ years Service code 27 · EIN 04-2654524 | Advisory (Plan) | $667,563 |
CALLAN ASSOCIATES, INC.1 year Service code 16 · EIN 94-2192581 | Consulting | $230,728 |
Service code 99 · EIN 02-0488491 | Other Fees | $221,097 |
Service code 16 · EIN 04-3304255 | Consulting | $213,171 |
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 codes3H2E2F2G2J2K2R2S2T3F
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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 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
- ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$9.0M
$452 / participant
- Other / not subdivided$9M100.0%
% of EOY assets
0.144%
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