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Retirement plan

L3HARRIS RETIREMENT SAVINGS PLAN

L3HARRIS TECHNOLOGIES, INC.EIN 34-0276860Plan #015PY 2021
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1025 WEST NASA BLVD, MAIL STOP C41I - MELBOURNE, FL 32901321-724-3554l3harris.comLinkedIn10001+ employeesdefense & space
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10 filings
#001Retirement-$8.52B assets#038Retirement-$204.6M assets#034Retirement-$154.6M assets#032Retirement-$88.2M assets#023Retirement-$73.2M assets#006Retirement-$61.7M assets#235Retirement-$51.7M assets#027Retirement-$41.6M assets#022Retirement-$41.4M assets#033Retirement-$25.3M assets
Prospect flagsLow employer contributionFailed to provide benefitCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(321) 724-3554
Plan administrator signer
ANDREA HARTMAN
Signed 10/11/2022
Plan administrator entity
EMPLOYEE BENEFITS COMMITTEE OF L3HARRIS TECHNOLOGIES, INC.
EIN 340276860
1025 WEST NASA BLVD · MELBOURNE, FL 32901
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Summary metrics

Total assets (EOY)
$15677M
-2.7% from 2016
Total participants
74,271
-34.2% from 2016
Average account balance
$215,705
+43.9% from 2016
Annual return
15.78%
+66.02 pp from 2016

Benchmarks

See 94 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort94 peers
Snapshot2021
Participant deferral / active EE
$11,285
median $7,803
Employer contribution / active EE
$15
median $4,368
Participation rate
96.1%
median 95.8%
Avg account balance
$215,705
median $166,140
Admin fee / account holder
$106
median $68
Annual return
15.78%
median 15.87%
Overall peer rank
45th 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

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.

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 codes2E2F2G2J2K2S2T3F2R
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants 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.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

3 tripped
  • OpportunityLow employer contribution

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

  • 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
$7.7M
$188 / participant
  • Other / not subdivided$8M100.0%
% of EOY assets
0.049%
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
BUCHBINDER TUNICK & COMPANY LLP
Auditor EIN
131578842
Audit fees
(not subdivided)
Opinion code
Unqualified