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TEXTRON 401(K) 401k Plan overview

Plan NameTEXTRON 401(K)
Plan identification number 001

TEXTRON 401(K) 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.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 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.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

TEXTRON INC has sponsored the creation of one or more 401k plans.

Company Name:TEXTRON INC
Employer identification number (EIN):050315468
NAIC Classification:339900

Additional information about TEXTRON INC

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 0660813

More information about TEXTRON INC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TEXTRON 401(K)

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012010-01-01CAMARYN FIORANE

Plan Statistics for TEXTRON 401(K)

401k plan membership statisitcs for TEXTRON 401(K)

Measure Date Value
2010
Total participants, beginning-of-year2010-01-01102
Total number of active participants reported on line 7a of the Form 55002010-01-010
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-010
Number of participants with account balances2010-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010

Financial Data on TEXTRON 401(K)

Measure Date Value
2010
Transfers to/from the plan2010-12-15$-2,695,745
Total income from all sources2010-12-15$699,950
Expenses. Total of all expenses incurred2010-12-15$397,730
Benefits paid (including direct rollovers)2010-12-15$394,804
Total plan assets at end of year2010-12-15$0
Total plan assets at beginning of year2010-12-15$2,393,525
Value of fidelity bond covering the plan2010-12-15$100,000
Total contributions received or receivable from participants2010-12-15$369,329
Contributions received from other sources (not participants or employers)2010-12-15$4,786
Other income received2010-12-15$251,926
Net income (gross income less expenses)2010-12-15$302,220
Net plan assets at end of year (total assets less liabilities)2010-12-15$0
Net plan assets at beginning of year (total assets less liabilities)2010-12-15$2,393,525
Assets. Value of participant loans2010-12-15$0
Total contributions received or receivable from employer(s)2010-12-15$73,909
Value of corrective distributions2010-12-15$2,252
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-15$674
Transfers to/from the plan2010-08-31$-2,695,745
Total income from all sources2010-08-31$699,950
Expenses. Total of all expenses incurred2010-08-31$397,730
Benefits paid (including direct rollovers)2010-08-31$394,804
Total plan assets at end of year2010-08-31$0
Total plan assets at beginning of year2010-08-31$2,393,525
Value of fidelity bond covering the plan2010-08-31$100,000
Total contributions received or receivable from participants2010-08-31$369,329
Contributions received from other sources (not participants or employers)2010-08-31$4,786
Other income received2010-08-31$251,926
Net income (gross income less expenses)2010-08-31$302,220
Net plan assets at end of year (total assets less liabilities)2010-08-31$0
Net plan assets at beginning of year (total assets less liabilities)2010-08-31$2,393,525
Assets. Value of participant loans2010-08-31$0
Total contributions received or receivable from employer(s)2010-08-31$73,909
Value of corrective distributions2010-08-31$2,252
Expenses. Administrative service providers (salaries,fees and commissions)2010-08-31$674
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-08-31$0

Form 5500 Responses

2010
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedYes
2010-01-01This submission is the final filingYes
2010-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes

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