Retirement plan

HARRIS CORPORATION RETIREMENT PLAN

Name: HARRIS CORPORATION - HARRIS CORPORATION RETIREMENT PLAN (2016) Form 5500
Creator: HARRIS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARRIS CORPORATION RETIREMENT PLAN, HARRIS CORPORATION

HARRIS CORPORATIONEIN 34-0276860Plan #015PY 2016

1025 WEST NASA BLVD, MAIL STOP A-11L - MELBOURNE, FL 32919321-724-3554l3harris.comLinkedIn10001+ employeesdefense & space

Other plans on this EIN

6 filings

#001Retirement-$4.42B assets #019Retirement-$77.8M assets #004Retirement-$47.7M assets #006Retirement-$43.4M assets #235Retirement-$35.3M assets #105Retirement-$5K assets

Prospect flagsFailed to provide benefitCorrective distributions

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.

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Total assets (EOY)

$6232.5M

+2.8% from 2015

Total participants

33,845

+51.9% from 2015

Average account balance

$189,621

-30.5% from 2015

Annual return

7.58%

-66.02 pp from 2015

Benchmarks

See 85 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants>=10,000

Cohort85 peers

Snapshot2016

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$16.32B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$222K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

73,549

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$537.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.18%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$49

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 10 of 16 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$1,874,098
T ROWE PRICE RPS INC1 year Filed as: T ROWE PRICE STABLE ASSET MNGMT INC Service code 28 · EIN 52-0556948	Investment Management	$1,736,569
BLACKROCK1 year Filed as: BLACKROCK INSTITUTIONAL TRUST CO. Service code 21 · EIN 94-3112180	Bank Trustee	$1,579,063
SANDS CAPITAL MANAGEMENT, LLC2+ years Filed as: SANDS CAPITAL MANAGEMENT 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
WITHUMSMITH+BROWN, PC2+ years Filed as: BROWN ADVISORY 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 ASSOCIATES1 year Filed as: CALLAN ASSOCIATES, INC. Service code 16 · EIN 94-2192581	Consulting	$230,728
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: ING INSTITUTIONAL PLAN SERVICES, LL Service code 99 · EIN 02-0488491	Other Fees	$221,097
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Filed as: FIDELITY INSTITUTIONAL OPERATIONS Service code 16 · EIN 04-3304255	Consulting	$213,171

Plan features & details

Pension benefit codes3H2E2F2G2J2K2R2S2T3F

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.
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

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$189,621

$126,925+49.4%

$74,184+155.6%

$329,111-42.4%

Participation rate

95.1%

87.5%+7.5pp

76.6%+18.5pp

67.9%+27.2pp

Annual return

7.58%

10.67%-3.1pp

17.74%-10.2pp

16.35%-8.8pp

Employer contribution / active EE

$3,861

$3,536+9.2%

$2,370+62.9%

$2,303+67.6%

Participant deferral / active EE

$9,335

$6,619+41.0%

$3,550+163.0%

$3,682+153.5%

Admin fee / account holder

$273

$64+329.3%

$5,586-95.1%

$754-63.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$1,874,098

T ROWE PRICE RPS INC1 year

Filed as: T ROWE PRICE STABLE ASSET MNGMT INC

Service code 28 · EIN 52-0556948

Investment Management

$1,736,569

BLACKROCK1 year

Filed as: BLACKROCK INSTITUTIONAL TRUST CO.

Service code 21 · EIN 94-3112180

Bank Trustee

$1,579,063

SANDS CAPITAL MANAGEMENT, LLC2+ years

Filed as: SANDS CAPITAL MANAGEMENT

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

WITHUMSMITH+BROWN, PC2+ years

Filed as: BROWN ADVISORY

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 ASSOCIATES1 year

Filed as: CALLAN ASSOCIATES, INC.

Service code 16 · EIN 94-2192581

Consulting

$230,728

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: ING INSTITUTIONAL PLAN SERVICES, LL

Service code 99 · EIN 02-0488491

Other Fees

$221,097

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Filed as: FIDELITY INSTITUTIONAL OPERATIONS

Service code 16 · EIN 04-3304255

Consulting

$213,171

HARRIS CORPORATION RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARRIS CORPORATION RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion