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L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 401k Plan overview

Plan NameL3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES
Plan identification number 033

L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • 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

L3HARRIS TECHNOLOGIES, INC. has sponsored the creation of one or more 401k plans.

Company Name:L3HARRIS TECHNOLOGIES, INC.
Employer identification number (EIN):340276860
NAIC Classification:333200

Additional information about L3HARRIS TECHNOLOGIES, INC.

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 0209229

More information about L3HARRIS TECHNOLOGIES, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0332022-01-01ANDREA HARTMAN2023-10-09 ANDREA HARTMAN2023-10-09
0332021-01-01ANDREA HARTMAN2022-10-07 ANDREA HARTMAN2022-10-07
0332020-01-01ANDREA HARTMAN2021-10-06 ANDREA HARTMAN2021-10-06

Plan Statistics for L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES

401k plan membership statisitcs for L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES

Measure Date Value
2022: L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2022 401k membership
Market value of plan assets2022-12-3125,362,392
Acturial value of plan assets2022-12-3123,391,965
Funding target for retired participants and beneficiaries receiving payment2022-12-3115,666,622
Number of terminated vested participants2022-12-3114
Fundng target for terminated vested participants2022-12-31735,707
Active participant vested funding target2022-12-3135,518
Number of active participants2022-12-311
Total funding liabilities for active participants2022-12-3143,442
Total participant count2022-12-31170
Total funding target for all participants2022-12-3116,445,771
Prefunding balance at beginning of prior year after applicable adjustments2022-12-312,707,411
Amount remaining of prefunding balance2022-12-312,707,411
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-313,082,387
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-31110,000
Unpaid minimum required contributions for current year2022-12-310
Total participants, beginning-of-year2022-01-01170
Total number of active participants reported on line 7a of the Form 55002022-01-011
Number of retired or separated participants receiving benefits2022-01-01143
Number of other retired or separated participants entitled to future benefits2022-01-0111
Total of all active and inactive participants2022-01-01155
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-0114
Total participants2022-01-01169
2021: L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2021 401k membership
Market value of plan assets2021-12-3123,888,633
Acturial value of plan assets2021-12-3121,525,491
Funding target for retired participants and beneficiaries receiving payment2021-12-3116,433,811
Number of terminated vested participants2021-12-3114
Fundng target for terminated vested participants2021-12-31696,459
Active participant vested funding target2021-12-31887,431
Number of active participants2021-12-318
Total funding liabilities for active participants2021-12-31914,605
Total participant count2021-12-31175
Total funding target for all participants2021-12-3118,044,875
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-312,343,876
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of prefunding balance2021-12-312,343,876
Present value of excess contributions2021-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-312,707,411
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-31148,398
Carryover balance elected to use to offset funding requirement2021-12-310
Prefunding balance elected to use to offset funding requirement2021-12-310
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
Total participants, beginning-of-year2021-01-01175
Total number of active participants reported on line 7a of the Form 55002021-01-011
Number of retired or separated participants receiving benefits2021-01-01143
Number of other retired or separated participants entitled to future benefits2021-01-0113
Total of all active and inactive participants2021-01-01157
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-0113
Total participants2021-01-01170
2020: L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2020 401k membership
Market value of plan assets2020-12-3122,334,473
Acturial value of plan assets2020-12-3121,057,878
Funding target for retired participants and beneficiaries receiving payment2020-12-3116,276,846
Number of terminated vested participants2020-12-3115
Fundng target for terminated vested participants2020-12-31700,244
Active participant vested funding target2020-12-311,055,918
Number of active participants2020-12-319
Total funding liabilities for active participants2020-12-311,081,616
Total participant count2020-12-31175
Total funding target for all participants2020-12-3118,058,706
Balance at beginning of prior year after applicable adjustments2020-12-310
Prefunding balance at beginning of prior year after applicable adjustments2020-12-311,924,997
Carryover balanced portion elected for use to offset prior years funding requirement2020-12-310
Prefunding balanced used to offset prior years funding requirement2020-12-310
Amount remaining of prefunding balance2020-12-311,924,997
Present value of excess contributions2020-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2020-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2020-12-310
Reductions in caryover balances due to elections or deemed elections2020-12-310
Reductions in prefunding balances due to elections or deemed elections2020-12-310
Balance of carryovers at beginning of current year2020-12-310
Balance of prefunding at beginning of current year2020-12-312,343,876
Contributions allocated toward unpaid minimum require contributions from prior years2020-12-310
Contributions made to avoid restrictions adjusted to valuation date2020-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2020-12-310
Remaining amount of unpaid minimum required contributions2020-12-310
Minimum required contributions for current year target normal cost2020-12-31147,305
Unpaid minimum required contributions for current year2020-12-310
Unpaid minimum required contributions for all years2020-12-310
Total participants, beginning-of-year2020-01-01175
Total number of active participants reported on line 7a of the Form 55002020-01-018
Number of retired or separated participants receiving benefits2020-01-01144
Number of other retired or separated participants entitled to future benefits2020-01-0113
Total of all active and inactive participants2020-01-01165
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-0110
Total participants2020-01-01175
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010

Financial Data on L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES

Measure Date Value
2022 : L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2022 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$39,246
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$32,191
Total income from all sources (including contributions)2022-12-31$-4,156,427
Total of all expenses incurred2022-12-31$1,596,235
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,596,235
Value of total assets at end of year2022-12-31$19,593,198
Value of total assets at beginning of year2022-12-31$25,338,805
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$15,000,000
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
Liabilities. Value of operating payables at end of year2022-12-31$39,246
Liabilities. Value of operating payables at beginning of year2022-12-31$32,191
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-5,752,662
Value of net assets at end of year (total assets less liabilities)2022-12-31$19,553,952
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$25,306,614
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 master investment trust accounts at end of year2022-12-31$19,593,198
Value of interest in master investment trust accounts at beginning of year2022-12-31$25,338,805
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
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$1,596,235
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-12-31No
Did the plan have assets held for investment2022-12-31No
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 name2022-12-31BUCHBINDER TUNICK & COMPANY LLP
Accountancy firm EIN2022-12-31131578842
2021 : L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2021 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$32,191
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$32,551
Total income from all sources (including contributions)2021-12-31$3,009,413
Total of all expenses incurred2021-12-31$1,600,384
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$1,600,384
Value of total assets at end of year2021-12-31$25,338,805
Value of total assets at beginning of year2021-12-31$23,930,136
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$15,000,000
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
Liabilities. Value of operating payables at end of year2021-12-31$32,191
Liabilities. Value of operating payables at beginning of year2021-12-31$32,551
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$1,409,029
Value of net assets at end of year (total assets less liabilities)2021-12-31$25,306,614
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$23,897,585
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 master investment trust accounts at end of year2021-12-31$25,338,805
Value of interest in master investment trust accounts at beginning of year2021-12-31$23,930,136
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
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$1,600,384
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32021-12-31No
Did the plan have assets held for investment2021-12-31No
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 name2021-12-31BUCHBINDER TUNICK & COMPANY LLP
Accountancy firm EIN2021-12-31131578842
2020 : L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2020 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$32,551
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$33,102
Total income from all sources (including contributions)2020-12-31$3,237,715
Total of all expenses incurred2020-12-31$1,641,501
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$1,641,501
Value of total assets at end of year2020-12-31$23,930,136
Value of total assets at beginning of year2020-12-31$22,334,473
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$15,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Liabilities. Value of operating payables at end of year2020-12-31$32,551
Liabilities. Value of operating payables at beginning of year2020-12-31$33,102
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$1,596,214
Value of net assets at end of year (total assets less liabilities)2020-12-31$23,897,585
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$22,301,371
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in master investment trust accounts at end of year2020-12-31$23,930,136
Value of interest in master investment trust accounts at beginning of year2020-12-31$22,334,473
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$1,641,501
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32020-12-31No
Did the plan have assets held for investment2020-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Unqualified
Accountancy firm name2020-12-31BUCHBINDER TUNICK & COMPANY LLP
Accountancy firm EIN2020-12-31131578842

Form 5500 Responses for L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES

2022: L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Plan is a collectively bargained planYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan is a collectively bargained planYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: L3HARRIS OCEAN SYSTEMS PENSION PLAN FOR HOURLY EMPLOYEES 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan is a collectively bargained planYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes

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