Lockheed Martin Corporation 401(k) Review & Grade
Lockheed Martin Corporation Salaried Savings Plan
Bethesda, MDManufacturing95,628 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,610Employer $ per active participant
$13,240Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$51.4BNet plan assets, end of year
$355,809Average balance per account
Score breakdown
- Employer generosity43.3 / 5087th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 95th |
| Employee saving | 75th |
| Peers that auto-enroll | 69% |
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lockheed Martin put in about $11,610 per active participant, more than the typical peer ($5,480). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,110,246,326 |
| Participant (employee) contributions | $1,266,087,482 |
| Other contributions (incl. rollovers in) | $116,240,772 |
| Administrative expenses paid from the plan | $5,823,212 |
| Investment advisory & management fees | $4,765,206 |
| Benefits paid out | $4,672,943,031 |
| Net assets, start / end of year | $47.3B / $51.4B |
| Active participants, start / end of year | 96,812 / 94,445 |
| Participants with account balances | 144,580 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mitchell & Titus, LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728202928NAL0003650576001, received 2025-07-28, EIN 52-1893632, plan #017, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
Other 401(k) plans filed under this employer's EIN
CLockheed Martin Corporation Hourly Employee Savings Plan PlusDLockheed Martin Corporation Operations Support Savings PlanBLockheed Martin Corporation Performance Sharing Plan for Bargaining Employees
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