Plan Snapshot
- Plan Sponsor: Textron INC.
- Sponsor EIN: 050315468
- Sponsor Address: 40 WESTMINSTER STREET, PROVIDENCE, RI, 02903
- Plan Type: 401(k)
- Total Participants: 26,117
- Total Assets: $6.1B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 26,117 | $6.1B | $153.8M | $221.7M |
| 2023 | 26,609 | $5.7B | $146.5M | $209.6M |
| 2022 | 26,580 | $5.0B | $133.1M | $197.0M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $1,659,769 | — | $1,659,769 |
| PROSKAUER ROSE LLP | LEGAL | $88,984 | — | $88,984 |
| ERNST & YOUNG | ACCOUNTANT/AUDITOR | $67,000 | — | $67,000 |
| CEM BENCHMARKING | CONSULTANT | $15,000 | — | $15,000 |
| CIEBA | CONSULTANT | $6,495 | — | $6,495 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- PROSKAUER ROSE LLP — LEGAL
- ERNST & YOUNG — ACCOUNTANT/AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,837,248
- Estimated Expense Ratio: 0.030% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $1,693,956 | — | — | -$4,085 | — |
| 2023 | $2,065,478 | — | — | — | — |
| 2022 | $2,266,930 | — | — | — | — |