Plan Snapshot
- Plan Sponsor: Textron INC.
- Sponsor EIN: 050315468
- Sponsor Address: 40 WESTMINSTER STREET, PROVIDENCE, RI, 029032525
- Plan Type: DB
- Total Participants: 2,461
- Total Assets: $2.3B
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 2,461 | $2.3B | $0 | $0 |
| 2023 | 2,671 | $2.2B | $0 | $0 |
| 2022 | 2,800 | $2.1B | $0 | $0 |
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 |
|---|---|---|---|---|
| TEXTRON INC. | ADMINISTRATOR | $1,714,076 | — | $1,714,076 |
| FIDELITY INVESTMENTS | NONE | $676,786 | — | $676,786 |
| WILLIS TOWERS WATSON, LLC | NONE | $86,593 | — | $86,593 |
| ERNST & YOUNG | NONE | $74,396 | — | $74,396 |
| PROSKAUER ROSE, LLP | NONE | $28,916 | — | $28,916 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS — NONE
- WILLIS TOWERS WATSON, LLC — NONE
- ERNST & YOUNG — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,580,767
- Estimated Expense Ratio: 0.111% 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 | $2,580,766 | — | — | $74,396 | — |
| 2023 | $10,224,044 | — | — | $73,482 | — |
| 2022 | $2,365,097 | — | — | — | $1,279,888 |