Raytheon also operates a desktop benefits website where employees can access benefits information. Any pension plan is a set of promises to both the plan members and to. The raytheon benefits center can be contacted by phone at 8003581231. Note that such nonelecting churches must use this preapproved plan document and cannot use the nonstandardized profit sharing401k plan. During the period prior to 1981, the raytheon pension plan was contributory. After he retired his former employer merged with raytheon. Retired or separated participants receiving benefits 28,124. United technologies aerospace businesses and raytheon to. Apply for or update direct deposit pension benefit. If you wish to change or make updates to your beneficiary designation, please go to desktop benefits at link opens in new window and click on the.
In addition to protecting you and your familys health and wellbeing, we offer important income and worklife benefits to meet your needs. Your raytheon pension the association of raytheon retirees. Fortune magazine has named us its most admired company in aerospace. On august 27, 2002, counts ix, xi, xiii, and xvii were dismissed on the. The board also has determined that, at a minimum, each of mses. These documents may also be obtained free of charge from raytheon by requesting them by mail at raytheon company, investor relations, 870 winter street, waltham, ma, 02451, by telephone. Kennedy is the executive chairman of the raytheon technologies board of directors. Overview financials service providers investments insurance. Prototype plan is intended to qualify under code section 401a. The board has determined that each member is independent in accordance with nyse and sec rules applicable to audit committee members. Raytheon company pension plan for salaried employees 2015. As of may 2014, representatives are available to answer calls regarding benefits questions monday through. Apr, 2004 after he retired his former employer merged with raytheon.
Supplemental executive retirement plans raytheon company 2007. Qdro preparation for raytheon company pension plan for. This is a newly allowed type of preapproved plan under irs procedures. Raytheon company pension plan for salaried employees is a defined benefit plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific. Acquisitions on pension plans and dodfunded pension. Another type of plan, more common now than previously, is called a 401k plan. Raytheon reports strong fourth quarter and fullyear 2019.
However, your rights to benefits under the pension plan can only be determined by consulting. For many years, one of the most important goals of raytheons pension department has been to make sure that every former raytheon employee receives the amount. Hughes nonbargaining employees thrift and savings plan. Raytheon is proud to offer a comprehensive, competitive benefits package to you, your spouse or samesex domestic partner, and your eligible children. Your pension rights are governed by the plan document, and if you have any questions or doubts concerning your pension rights, the plan document should be consulted. The plan is both an excess benefit plan as defined in section 336 of erisa and a nonqualified, unfunded plan designed to provide supplemental retirement benefits to a select group of management or highly compensated employees within the meaning of. Raytheon company pension plan for salaried employees is a defined benefit plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific age. An employer offers either one or the other, and most likely.
The plan is both an excess benefit plan as defined in section 336 of erisa and a nonqualified. He brings nearly 40 years of aerospace and defense and leadership experience, including expertise in strategic planning, operations, cybersecurity, engineering and technology, and international business. This employee tools area provides internet access to several employee. The companies that have adopted the plan are called employers or participating employers. This system is meant to unlock the full potential of satellite data. For ttyascii american standard code for information interchange users, call the. You should contact raytheon and ask to speak to the plan administrator of the plan in question. Our company provides executives with the opportunity to earn additional pension benefits not provided by the companys taxqualified retirement plan or the. Page 4 continued from page 3 association of raytheon retirees, inc. Shops summary plan description archive download adobe reader the st. Raytheon understands the value of employee communications and providing easy access to company information. Corporation, a portion of the assets and liabilities of the raytheon pension. This booklet is designed to summarize the features of the plan and supersedes all previous booklets. Salaried employees retirement plan raytheon esystems, inc.
Depending upon the adoption agreement completed by an adopting employer, the prototype plan may be used to implement. Utc slides stock information raytheon technologies. Page 5 continued from page 4 contribution, including a larger match for those employees hired after 2006 and not eligible to earn benefits in a pension plan. Sep 07, 2015 another of those goals has been that each pension plan member understands that his or her pension is correct. This plan is designed for governmental entities and indian tribal governments adopting or maintaining a profit sharing plan, including a plan with grandfathered 401k plan features. O the earliest a person can draw pension benefits from this plan is age 55 with the exception of disability retirement. The documents filed by raytheon with the sec may be obtained free of charge at raytheon s website at. Jan 29, 2017 during the period prior to 1981, the raytheon pension plan was contributory. Raytheon company pension plan for salaried employees 2017.
If the employer no longer exists then the plan may be in the hands of the pbgc and you would instead. He brings nearly 40 years of aerospace and defense and leadership experience, including. Nov 23, 2006 pension plans are sponsored by the employer. Page 5 continued from page 4 contribution, including a larger match for those. Documents incorporated by reference and made a part of this form 10k. The retirement benefit paid to a retiree is typically calculated using a formula which often employs years of credited service under the plan and salary information. However, your rights to benefits under the pension plan can only be determined by consulting the pension plan document itself. This decrease in cash from pension from 2017 to 2018 is nonoperational and driven by requirements of our pension plans. Qdro preparation for raytheon company pension plan. Remember to have the following information on hand so that the. As of may 2014, representatives are available to answer calls regarding benefits questions monday through friday from 8 a. Adequate contractor records that would ensure the government received proper credit for its share. Hawker beechcraft corporation retirement income plan for.
The plan is both an excess benefit plan as defined in section 336 of erisa and a nonqualified, unfunded plan designed to provide supplemental retirement benefits to a select group of management or highly. This employee tools area provides internet access to several employee focused sets of information andor activities. This booklet is a summary description of the hawker beechcraft corporation retirement income plan for hourly paid employees the plan. Call pbgcs customer contact center to apply for or update direct deposit. Apply for or update direct deposit pension benefit guaranty. An employer offers either one or the other, and most likely offers the latter. The raytheon excess pension plan plan is hereby established effective january 1, 1999. United technologies aerospace businesses and raytheon. Pbgc s auditors gathered from memorex telex and those records. O hawker beechcraft corporationthe company is the plan sponsor for the plan. During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 cft 2510. The documents filed by raytheon with the sec may be obtained free of charge at raytheons website at. Manual means the policies and practices manual of hughes or a company which is current at the time of. Raytheon technologies ceo and cfo to presentat the bofa securities 2020 transportation and industrials conference on tuesday, may 12 at 9.
For ttyascii american standard code for information interchange users, call the federal relay service tollfree at 18008778339 and ask to be connected to the number above. How can i contact a pension plan raytheon company pension. Retirement information the association of raytheon retirees. Plaintiff became a participant in the raytheon qualified plan, which assumed responsibility for the pensions payable to plaintiff and shirley, that is, the pensions subject to the qdro. Anthony obrien to become cfo of raytheon technologies. At that time, you could either choose to participate in the raytheon pension plan or have an ira. The plan is exempt from the requirements of title i of erisa. Pension plan and trust the hangar one plan, a special benefit formula applies to you. Nonelecting church money purchase pension plan nonstandardized. Anheuserbusch salaried employees pension plan 1 introduction the anheuserbusch salaried employees pension plan the plan or salaried plan is a defined benefit pension. The newport difference retirement plan management made easy we offer stateoftheart plan administration and recordkeeping services. Raytheon technologies employee benefits and perks glassdoor.
Prior to 1976, you had to be 30 to participate in the raytheon pension plan. As a result of the dcaa contract audit manual, january 1997. Unlike pension plans, the employee retiree income security act of 1974. These documents may also be obtained free of charge from raytheon by requesting them by mail at raytheon company, investor relations, 870 winter street, waltham, ma, 02451, by. Atkinson and stewart is an audit committee financial expert, as defined by sec rules, and that all members are financially literate under the nyse standards. The plan is both an excess benefit plan as defined. Nothing in this handbook is intended to interpret, extend or change in any way the provisions of the pension plan document. On august 27, 2002, counts ix, xi, xiii, and xvii were dismissed on the grounds that these state law claims were preempted by erisa. If you wish to change or make updates to your beneficiary designation, please go to desktop benefits at s. Employee group pension plan prb plan salaried employees of esystems esystems, inc. Unlike other companies, government contractors such as raytheon experience not only cash outflows from pension costs, but also cash inflows from the u. Continuous evolution improves this missile defense system. Plaintiff became a participant in the raytheon qualified plan, which assumed responsibility for the pensions. Memorex telex employees pension plan mt plan, formerly the telex plan, to the raytheon pension plan effective october 15, 1990.
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