Retirement plan

LOCKHEED MARTIN CORPORATION PERFORMANCE SHARING PLAN FOR BARGAINING EMPLOYEES

Name: LOCKHEED MARTIN CORPORATION - LOCKHEED MARTIN CORPORATION PERFORMANCE SHARING PLAN FOR BARGAINING EMPLOYEES (2023) Form 5500
Creator: LOCKHEED MARTIN CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCKHEED MARTIN CORPORATION PERFORMANCE SHARING PLAN FOR BARGAINING EMPLOYEES, LOCKHEED MARTIN CORPORATION

LOCKHEED MARTIN CORPORATIONEIN 52-1893632Plan #055PY 2023

6801 ROCKLEDGE DRIVE, CCT-224 - BETHESDA, MD 20817863-647-0370lockheedmartin.comLinkedIn10001+ employeesdefense & space

Other plans on this EIN

10 filings

#017Retirement-$47.27B assets #001Retirement-$18.43B assets #068Retirement-$3.36B assets #006Retirement-$2.34B assets #018Retirement-$1.53B assets #012Retirement-$1.09B assets #067Retirement-$950.8M assets #033Retirement-$375.8M assets #019Retirement-$267.4M assets #021Retirement-$51.7M assets

Prospect flagsLow participant contribution

Top hat statement on fileNQDC

Filed February 22, 2016 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

6801 Rockledge Drive, CCT-115

Bethesda State: MD Zip Code: 20817

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (13)

Lockheed Martin Corporation Nonqualified Capital Accumulation Plan227 emp
Lockheed Martin Corporation Supplemental Retirement Plan5,195 emp
Lockheed Martin Pilots Supplemental Retirement Plan84 emp
Supplemental Retirement Benefit Plan for Certain Transferred Employees of Lockheed Martin Corporation174 emp
Lockheed Martin Corporation Supplemental Savings Plan2,227 emp
+8 more

Total covered: 9,838 employees

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Total assets (EOY)

$2172M

+31.0% from 2022

Total participants

21,176

+38.4% from 2022

Average account balance

$103,755

-5.7% from 2022

Annual return

28.74%

+37.37 pp from 2022

Benchmarks

See 93 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants>=10,000

Cohort93 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.99B

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

21,552

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$215.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+36.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16

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

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.

Plan features & details

Pension benefit codes2E2G2J2F2I2S2T3H3F2K2O

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.
2I
Stock bonus
Stock bonus plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$284K

$15 / participant

Recordkeeping$40K14.0%
Investment mgmt$196K69.3%
Contract admin$2K0.6%
Other / not subdivided$46K16.1%

% of EOY assets

0.013%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MITCHELL & TITUS, LLP
Auditor EIN: 132781641
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$103,755

$161,802-35.9%

$96,534+7.5%

$96,393+7.6%

Participation rate

98.7%

92.5%+6.2pp

76.0%+22.7pp

71.3%+27.4pp

Annual return

28.74%

18.41%+10.3pp

25.88%+2.9pp

22.88%+5.9pp

Employer contribution / active EE

$3,730

$5,381-30.7%

$2,965+25.8%

$3,239+15.2%

Participant deferral / active EE

$5,407

$8,927-39.4%

$4,851+11.5%

$5,455-0.9%

Admin fee / account holder

$14

$61-77.8%

$8,253-99.8%

$74-81.7%

LOCKHEED MARTIN CORPORATION PERFORMANCE SHARING PLAN FOR BARGAINING EMPLOYEES

Top hat statement on fileNQDC

Plan administrator

Plans declared (13)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCKHEED MARTIN CORPORATION PERFORMANCE SHARING PLAN FOR BARGAINING EMPLOYEES

Top hat statement on fileNQDC

Plan administrator

Plans declared (13)

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