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EXELIS SALARIED RETIREMENT PLAN 401k Plan overview

Plan NameEXELIS SALARIED RETIREMENT PLAN
Plan identification number 001

EXELIS SALARIED RETIREMENT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.
  • Code section 401(h) arrangement - Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:EXELIS INC.
Employer identification number (EIN):452083813
NAIC Classification:333200

Additional information about EXELIS INC.

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 2011-09-15
Company Identification Number: F187374
Legal Registered Office Address: 100 SHOCKOE SLIP
2ND FLOOR
RICHMOND
United States of America (USA)
23219

More information about EXELIS INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan EXELIS SALARIED RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012014-01-01DAVID WATROUS
0012013-01-01WILLIAM BONK
0012012-01-01WILLIAM BONK
0012011-01-01WILLIAM BONK

Plan Statistics for EXELIS SALARIED RETIREMENT PLAN

401k plan membership statisitcs for EXELIS SALARIED RETIREMENT PLAN

Measure Date Value
2014: EXELIS SALARIED RETIREMENT PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0149,024
Total number of active participants reported on line 7a of the Form 55002014-01-017,589
Number of retired or separated participants receiving benefits2014-01-0123,695
Number of other retired or separated participants entitled to future benefits2014-01-0113,083
Total of all active and inactive participants2014-01-0144,367
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-013,647
Total participants2014-01-0148,014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-0162
2013: EXELIS SALARIED RETIREMENT PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0153,305
Total number of active participants reported on line 7a of the Form 55002013-01-018,622
Number of retired or separated participants receiving benefits2013-01-0123,435
Number of other retired or separated participants entitled to future benefits2013-01-0113,472
Total of all active and inactive participants2013-01-0145,529
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-013,495
Total participants2013-01-0149,024
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-01145
2012: EXELIS SALARIED RETIREMENT PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0155,767
Total number of active participants reported on line 7a of the Form 55002012-01-019,974
Number of retired or separated participants receiving benefits2012-01-0122,453
Number of other retired or separated participants entitled to future benefits2012-01-0117,584
Total of all active and inactive participants2012-01-0150,011
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-013,280
Total participants2012-01-0153,291
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-01167
2011: EXELIS SALARIED RETIREMENT PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0156,231
Total number of active participants reported on line 7a of the Form 55002011-01-0113,065
Number of retired or separated participants receiving benefits2011-01-0121,612
Number of other retired or separated participants entitled to future benefits2011-01-0117,985
Total of all active and inactive participants2011-01-0152,662
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-013,069
Total participants2011-01-0155,731
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-01383

Financial Data on EXELIS SALARIED RETIREMENT PLAN

Measure Date Value
2014 : EXELIS SALARIED RETIREMENT PLAN 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$226,333
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$795,264
Total income from all sources (including contributions)2014-12-31$440,971,868
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$323,165,788
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$323,165,788
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$138,689,000
Value of total assets at end of year2014-12-31$4,377,784,823
Value of total assets at beginning of year2014-12-31$4,260,547,674
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$0
Total interest from all sources2014-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$15,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Liabilities. Value of operating payables at end of year2014-12-31$226,333
Liabilities. Value of operating payables at beginning of year2014-12-31$795,264
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$117,806,080
Value of net assets at end of year (total assets less liabilities)2014-12-31$4,377,558,490
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$4,259,752,410
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in master investment trust accounts at end of year2014-12-31$4,314,982,823
Value of interest in master investment trust accounts at beginning of year2014-12-31$4,218,476,674
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$138,689,000
Employer contributions (assets) at end of year2014-12-31$62,802,000
Employer contributions (assets) at beginning of year2014-12-31$42,071,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$323,165,788
Did the plan have assets held for investment2014-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31No
Opinion of an independent qualified public accountant for this plan2014-12-31Unqualified
Accountancy firm name2014-12-31BUCHBINDER TUNICK & COMPANY LLP
Accountancy firm EIN2014-12-31131578842
2013 : EXELIS SALARIED RETIREMENT PLAN 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total transfer of assets to this plan2013-12-31$6,185,866
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$795,264
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$191,749
Total income from all sources (including contributions)2013-12-31$619,660,454
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$420,031,256
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$420,031,256
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$170,472,000
Value of total assets at end of year2013-12-31$4,260,547,674
Value of total assets at beginning of year2013-12-31$4,054,129,095
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$0
Total interest from all sources2013-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$15,000,000
If this is an individual account plan, was there a blackout period2013-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Liabilities. Value of operating payables at end of year2013-12-31$795,264
Liabilities. Value of operating payables at beginning of year2013-12-31$191,749
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$199,629,198
Value of net assets at end of year (total assets less liabilities)2013-12-31$4,259,752,410
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$4,053,937,346
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in master investment trust accounts at end of year2013-12-31$4,218,476,674
Value of interest in master investment trust accounts at beginning of year2013-12-31$4,010,231,095
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Contributions received in cash from employer2013-12-31$170,472,000
Employer contributions (assets) at end of year2013-12-31$42,071,000
Employer contributions (assets) at beginning of year2013-12-31$43,898,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$420,031,256
Did the plan have assets held for investment2013-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31No
Opinion of an independent qualified public accountant for this plan2013-12-31Unqualified
Accountancy firm name2013-12-31DELOITTE & TOUCHE LLP
Accountancy firm EIN2013-12-31133891517
2012 : EXELIS SALARIED RETIREMENT PLAN 2012 401k financial data
Total unrealized appreciation/depreciation of assets2012-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$191,749
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$616,320
Total income from all sources (including contributions)2012-12-31$495,648,198
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$335,790,334
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$335,790,334
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$102,898,000
Value of total assets at end of year2012-12-31$4,054,129,095
Value of total assets at beginning of year2012-12-31$3,894,695,802
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$0
Total interest from all sources2012-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$15,000,000
If this is an individual account plan, was there a blackout period2012-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Liabilities. Value of operating payables at end of year2012-12-31$191,749
Liabilities. Value of operating payables at beginning of year2012-12-31$616,320
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$159,857,864
Value of net assets at end of year (total assets less liabilities)2012-12-31$4,053,937,346
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$3,894,079,482
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Value of interest in master investment trust accounts at end of year2012-12-31$4,010,231,095
Value of interest in master investment trust accounts at beginning of year2012-12-31$3,704,695,802
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Contributions received in cash from employer2012-12-31$102,898,000
Employer contributions (assets) at end of year2012-12-31$43,898,000
Employer contributions (assets) at beginning of year2012-12-31$190,000,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$335,790,334
Did the plan have assets held for investment2012-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31DELOITTE & TOUCHE LLP
Accountancy firm EIN2012-12-31133891517
2011 : EXELIS SALARIED RETIREMENT PLAN 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$616,320
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$510,939
Total income from all sources (including contributions)2011-12-31$201,205,311
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$287,393,154
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$287,393,154
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$240,000,000
Value of total assets at end of year2011-12-31$3,894,695,802
Value of total assets at beginning of year2011-12-31$3,980,778,264
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$0
Total interest from all sources2011-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$15,000,000
If this is an individual account plan, was there a blackout period2011-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Liabilities. Value of operating payables at end of year2011-12-31$616,320
Liabilities. Value of operating payables at beginning of year2011-12-31$510,939
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-86,187,843
Value of net assets at end of year (total assets less liabilities)2011-12-31$3,894,079,482
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$3,980,267,325
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest in master investment trust accounts at end of year2011-12-31$3,704,695,802
Value of interest in master investment trust accounts at beginning of year2011-12-31$3,980,778,264
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$240,000,000
Employer contributions (assets) at end of year2011-12-31$190,000,000
Employer contributions (assets) at beginning of year2011-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$287,393,154
Did the plan have assets held for investment2011-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31No
Opinion of an independent qualified public accountant for this plan2011-12-31Unqualified
Accountancy firm name2011-12-31DELOITTE & TOUCHE LLP
Accountancy firm EIN2011-12-31133891517

Form 5500 Responses for EXELIS SALARIED RETIREMENT PLAN

2014: EXELIS SALARIED RETIREMENT PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: EXELIS SALARIED RETIREMENT PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: EXELIS SALARIED RETIREMENT PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: EXELIS SALARIED RETIREMENT PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

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