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LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 401k Plan overview

Plan NameLOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO
Plan identification number 001

LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • 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 contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan not intended to be qualified - A plan not intended to be qualified under Code sections 401, 403, or 408.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

LOCKHEED MARTIN GLOBAL, INC. has sponsored the creation of one or more 401k plans.

Company Name:LOCKHEED MARTIN GLOBAL, INC.
Employer identification number (EIN):521047729
NAIC Classification:339900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01

Plan Statistics for LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO

401k plan membership statisitcs for LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO

Measure Date Value
2022: LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 2022 401k membership
Total participants, beginning-of-year2022-01-01285
Total number of active participants reported on line 7a of the Form 55002022-01-01453
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0130
Total of all active and inactive participants2022-01-01483
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-011
Total participants2022-01-01484
Number of participants with account balances2022-01-01482
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 2021 401k membership
Total participants, beginning-of-year2021-01-010
Total number of active participants reported on line 7a of the Form 55002021-01-01268
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0117
Total of all active and inactive participants2021-01-01285
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01285
Number of participants with account balances2021-01-01282
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010

Financial Data on LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO

Measure Date Value
2022 : LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$1,846,024
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$51,959
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$51,959
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$2,124,486
Value of total assets at end of year2022-12-31$3,036,160
Value of total assets at beginning of year2022-12-31$1,242,095
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$0
Total interest from all sources2022-12-31$709
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$58,101
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$58,101
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$100,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$1,068,885
Participant contributions at end of year2022-12-31$32,011
Participant contributions at beginning of year2022-12-31$7,154
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$182,584
Value of other receiveables (less allowance for doubtful accounts) at end of year2022-12-31$122
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2022-12-31$13
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$1,794,065
Value of net assets at end of year (total assets less liabilities)2022-12-31$3,036,160
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$1,242,095
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$2,946,752
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$1,208,307
Interest on participant loans2022-12-31$698
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$57,275
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$26,621
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$26,621
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$11
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-337,272
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$873,017
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$51,959
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31MITCHELL & TITUS, LLP
Accountancy firm EIN2022-12-31132781641
2021 : LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$1,242,095
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$0
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,177,443
Value of total assets at end of year2021-12-31$1,242,095
Value of total assets at beginning of year2021-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$0
Total interest from all sources2021-12-31$70
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$113,525
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$113,525
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$100,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$572,948
Participant contributions at end of year2021-12-31$7,154
Participant contributions at beginning of year2021-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$80,204
Value of other receiveables (less allowance for doubtful accounts) at end of year2021-12-31$13
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2021-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$1,242,095
Value of net assets at end of year (total assets less liabilities)2021-12-31$1,242,095
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$1,208,307
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$0
Interest on participant loans2021-12-31$70
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$26,621
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$-48,943
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$524,291
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31MITCHELL & TITUS, LLP
Accountancy firm EIN2021-12-31132781641

Form 5500 Responses for LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO

2022: LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: LOCKHEED MARTIN SAVINGS PLAN FOR EMPLOYEES IN PUERTO RICO 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01First time form 5500 has been submittedYes
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes

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